In the long run we value experiences over material goods
by Amparo C. on Nov 12, 2014 | Views: 315 | Score: 5
| Material Purchase | Experiential Purchase | |
|---|---|---|
| Prepurchase forecast | 4.41 | 2.9 |
| Two weeks post consumption | 4.91 | 5.7 |
| Four weeks post consumption | 4.67 | 5.42 |
psychological value (1=not at all; 7=very much)
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Prof. Howell (San Francisco State University) in a study published earlier this year, found that people think material purchases offer better value for the money because experiences are fleeting, and material goods last longer, but when people looked back at their purchases, they realized that experiences actually provided better value. Prof. Thomas Gilovich (Cornell University psychology) agreed saying that "Experiences, tend to meet more of our underlying psychological needs and they form a bigger part of our sense of identity".