Scientists say we should buy things that give us ‘experiences’ – and sports equipment, musical instruments and video games should be top of the list.
Researchers found that buying things that provide you with experiences is key.
They say musical instruments, sports gear and even video games can all make us content than simply splurging on a new pair of shoes.
The researchers concluded that experiential products offer more well-being than material items.
They say they satisfy a person’s autonomy (behaviors to express one’s identity), competence (mastering a skill or ability) and relatedness (having a sense of belonging with others).
Purchases that people make ‘to have in order to do’ would include video games, sports equipment or musical instruments, the team say.
While material items and experiential products are both tangible goods, the researchers say, the latter satisfies greater psychological need of competence because it often requires consumers to utilize some sort of skill or ability.
The findings appear in the Journal of Consumer Psychology.