The perception of value is central to the satisfaction and loyalty of customers, and is therefore of great importance to organisations. Recent focus on the customer experience has led to the recognition that value, in its broadest sense, can be thought of as something experienced by customers rather than packaged and sold by companies. Customer perception of value over the entire course of the customer experience, or “value-in-experience”, is a relatively new concept that has received little research to date. This paper presents a theoretical foundation and proposed research agenda for this concept.