This term is thrown around quite a bit, from everything in B2B customer relationships, to many consumer-related examples, like the value of all the groceries someone could buy during their lifetime.
But we didn’t invent it. It has been around longer than we think.
When Henry Flagler decided to lay down rails and build hotels in South Florida, one of the things he pondered was the amount each new resident or frequent visitor would spend on his railroad business. He estimated that each person would amount for $300 in transportation tickets, during their lifetime. About $8,000 in today’s money.