When you hear about someone saving for a large purchase, are you the type of person to think that person is probably planning to purchase a car, boat, antique, or another material item?

Or, are you the type of person who thinks of saving for an RV tour of North America, a luxurious cruise, exploring Europe for a couple of weeks at a time, or boating down the Amazon River? (Yes, this is a real thing)…

Did you know that research shows consumer satisfaction is higher when consumers are purchasing an experience as opposed to a material purchase?

Even though people typically utilize their material purchases for longer than those funding an experiential purchase, those who purchase an experiential experience have a higher level of satisfaction before, during, and after consumption. The researchers from Cornell University said a possible explanation is the endurance of experiences in people’s memories, while the perceived value of material goods weakens over time.

Everyone enjoys their material purchases, normally more right after the purchase, but don’t forget to also plan for those purchases that are an experience!

So, what will you be saving for next?

I think I’ll look further into these Amazon River trips as they also offer kayak trips along the river!

As always, reach out to MFG by clicking here when you have questions!