Do experiences make people happier than material possessions? Researchers Leaf Van Boven and Thomas Gilovich concluded they do. In two surveys, respondents from various demographic groups indicated that experiential purchases — those made with the primary intention of acquiring a life experience — made them happier than material purchases. In a follow-up laboratory experiment, participants experienced more positive feelings after pondering an experiential purchase than after pondering a material purchase.
While emphasizing their research concerns the allocation of discretionary resources in the pursuit of happiness, Van Boven and Gilovich state that experiences keep us focused on the here and now, and we anticipate and remember experiences more than material goods.
In one of their studies, participants were assigned to spend several dollars on an experience or material good. Van Boven and Gilovich found that 83 percent reported “mentally revisiting” their experiential purchases more frequently than their material purchases. In another study, they asked over 1,000 Americans to think of a material and experiential purchase they had made with the intention of increasing their own happiness. Fifty-seven percent of respondents reported that they had derived greater happiness from their experiential purchase, while only 34 percent reported greater happiness from their material purchase.
“The pleasure we derive from our anticipations and recollections of events are a substantial part of our online experience,” the researchers state. “Our enjoyment of both experiences and possessions extend in time: We enjoy their anticipation and further ‘consume’ their recollection.”
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