CAN BUYING A HOOVER MAKE YOU HAPPIER THAN PURCHASING A TAYLOR SWIFT TICKET?
SCHOOL: Copenhagen Business School COUNTRY: Denmark
Consumption is typically broken into two groups – experience and material purchases. Traditionally, experiences have been seen as something you might spoil yourself with – so, depending on your individual interests, perhaps a beauty product, film ticket or even an elusive Taylor Swift concert ticket. Material things, meanwhile, have been seen to be more practical and logical purchases. But is this dynamic changing? Can the purchase of everyday material items, such as a coffee mug, t-shirt or toolbox, activate the same level of happiness as the purchase of an experience? New research has found that items which create a special bond with the buyer – such as a suitably illustrated coffee mug or a toolbox with a personalised quote – can create as much happiness for the buyer as a prized experience. “We asked people what purchases they remembered and what made them happy. Their answers surprised us because, until now, we have had a functional approach to everyday material products, such as vacuum cleaners,
coffee mugs and t-shirts,” said Copenhagen Business School associate professor Georgios Halkias, one of the researchers behind the study. “But it appears that consumers no longer buy such products for practical reasons only. A vacuum cleaner with a monogram can get the job done but also brings joy. The use of unique or unconventional designs or vibrant colours, stickers, personal badges and quote prints can increase the enjoyment and pleasure associated with a product.” The study’s authors believe that manufacturers and marketers should take note of this shift in consumer behaviour and interest in products that mix aesthetics and fun with functionality. “The boundaries between buying experiences and material things will blur and boring products will change and become more personal,” added Halkias. Conducted with Nova School of Business and Economics’ Sofia Kousui and Flora Kokkinaki at the Athens University of Economics and Business, the study has been published in the journal Psychology & Marketing . EB
10 | Ambition | NOVEMBER 2023
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