This is Why Experience Gifts are Worth the Expense

Sending someone on an African safari, staying in an Irish castle or going to Coachella makes them happier in the long run than a physical object. The perfect gift isn’t something you can wrap. More people want memorable experiences over the latest iPhone or designer bag — and their friends and family are more than happy to oblige by booking a table at a favorite restaurant, fueling an adrenaline rush with a skydiving session…

“It’s possible that we are in a post-materialistic world where we have enough stuff, and now people are focusing more on acquiring experiences,” said Dr. Joseph K. Goodman, an Ohio State University professor, who has co-authored a paper on “When Consumers Prefer to Give Material Gifts Instead of Experiences.”

“The other possibility is that people are looking for more unique gifts,” he also told Moneyish, “and we know more research that experiences are more unique and less comparable; two sweaters can be compared easily, but two vacations are much harder to compare, and have their own unique qualities and benefits.”…

Moneyish by Nicole Lyn Pesce @pescenic

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