What’s better – experiences or things?

Pointing to a recent San Francisco study, Auckland theme park Rainbow’s End says Kiwis would be much happier purchasing experiences instead of material items. Supplied Photo.

Kiwis would be much happier if they forked out money to purchases experiences instead of things this Christmas, says Rainbow's End.

While it sounds like flagrant self-promotion for the theme park, the claim is backed up by recent research which suggests we'd all be a lot happier ‘doing things' rather than ‘having things'.

A San Francisco University study found people who spend money on experiences rather than material items are happier and feel the money is better spent.

It's a trend that's become increasingly popular over past years and much of this has to do with the impact millennials are having.

Rainbow's End marketing manager Katharine Murray says the Auckland theme park has capitalised on this growing trend by introducing unique events, like the 6-11pm Christmas Night Rides and various other experiences and events. 

“Our gift vouchers are also proving popular, especially in the lead up to the holidays. This shows that, as the research suggests, people of all ages are choosing to gift experiences, such as theme park visits, instead of a traditional material item.

“We believe it's a natural reaction to the increase in advertising, and material consumer goods that people are being exposed to on a daily basis. The thrill of purchasing things fades quickly, but the joy and memories of experiences, from epic adventures to smaller encounters, can last a lifetime.” 

According to the study, more than three in four millennials (78 per cent) would choose to spend money on an experience or event over buying something desirable.

Another motivation is the development of social media. Factors such as craving recognition (how many likes a Facebook post can amass for example) and ‘FOMO', or ‘fear of missing out' help drive cravings for experiences.

Katharine says Rainbow's End have certainly noticed an increase in activity on their own social media channels.

“All generations, but especially that younger age-group, like their friends to see that they are out enjoying cool events and activities.

“They seem to value activities that will enhance their lives – and their Snapchat account – far more than material stuff.”

Do you agree? What experiences would you fork out your hard earned cash on, or vice-versa, what material item would you spend up large on? Post your comments below.



2 Comments

money

Posted on 31-12-2016 11:30 | By dumbkof2

yes dont buy anything just waste it on places like this. the name of this place says it all

from Owen G.

Posted on 31-12-2016 11:06 | By Owen G

Sure would help take pressure off the landfill

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