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Experiences Vs Material Goods: The Science of What Makes a Better Gift

Experiences Vs Material Goods: The Science of What Makes a Better Gift

by Mireille Kilgour

Experiences make better gifts - Good Food Gift Card

Give the perfect gift with a Good Food Gift Card. Take a look at our different packages here.

Wondering what to purchase for your next gift? Stuck for ideas? Let's look to science for the answer. Actually, to be more precise, let's look at behavioural and economic sciences.

Behavioural science tells us that 47% of the time, the human mind is wandering. Wandering while reading, wandering while washing the dishes, wandering when feeding the kids breakfast. It even wanders during sex. But is this a bad thing?

According to psychologist Matthew Killingsworth, yes, it is a bad thing.

Killingsworth states that "a wandering mind is an unhappy mind", suggesting that more often than not, the mind wanders to dangerous places. This doesn't necessarily mean dark and creepy woods, but it does mean that the whimsical fantasy isn't as common as you may think. Unless….

There is an exception to this rule. According to Killingsworth, those with enjoyable experiences tucked away in the mind tend to go to a 'happy place' when mind wandering. Experiences offer something sweet to anticipate or remember, and instead of wandering to the endless list of chores you have, you are instead likely to find yourself seated in an elegant restaurant eating fine food with a wonderful friend. This 'recall' or 'anticipation' fantasy sends with it happiness.

Killingsworth's thoughts back years of research suggesting that experiences bring people more happiness than possessions, and cements the notion that we should be spending our money on experiences rather than 'things'.

Let's look in more detail…

Science tells us that when you can't live 'in the moment', it's best to live in anticipation of an experience. Experiential purchases like trips, concerts, movies, and dinner vouchers tend to trump material purchases because the utility of buying anything really starts accruing before you actually buy it. Purchase someone a voucher for an experience and from the moment they receive it, they feel happiness. This happiness continues while they anticipate using the voucher, is strong during the experience, and continues to be present after the event in the form of a memory.

Science also tells us that the initial joy of receiving goods, such as a new watch or gadget, fades over time as people become accustomed to seeing it every day. Then of course there are the chocolates and flowers, which while wonderful at the time of giving, quickly turn to disappointment once they've gone. There may be a myth that "physical objects last longer", but it's really only through experiences, and the memories that they provide, that gifts can really last a lifetime.

Benefits of experiences

Social bonding: More often than not, a person who receives the gift of an experience will take someone with them. Experiences are generally shared with another, and this fulfils the need for social bonding. At the very least, the receiver will share what their experience was like with you, the buyer – which offers a chance for you to feel appreciated, and builds a stronger social connection between you both.

Sense of being alive: Think about it. Have you ever felt 'alive' due to the purchase of a new device? Have you ever felt totally exhilarated with the opening of a new piece of clothing? Probably not, we're guessing. Research clearly shows that people feel a greater sense of vitality or 'being alive' during an experience or as part of reflection.

Confidence in comparing: A study held by the psychology department at Cornell University showed that people feel self-conscious about sharing their possessions, whereas they're confident in sharing experiences. Experiences lead to jealousy less often than, say, a top entertainment system might. You don't want the person hiding your gift – you want them shouting from the rooftops about how much they loved it!

Memory: The human ability to remember is something remarkable. Imagine yourself in your final days – would you remember that you were using the iPhone 6 Plus while your peers were still using the 5, or will you remember the fun times you had at a nice meal or when travelling?

There you have it – experiences really do make the better gifts. So, are you considering which experience to give as your next gift? Take a look at our Dinner and Movie voucher – your recipient is sure to remember you every time they think of both the movie and the restaurant they choose to attend.

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Mireille Kilgour

Mireille Kilgour has been an entrepreneur for 35 years in the hospitality sector. French born, she has been an accomplished business owner and operator for a number of Sydney venues. Leading the industry with high profile institutions such as Lamrock Café Bondi, she has endless passion for the industry, and now has the pleasure of supporting restaurants to fill their tables with the new Good Food Gift Card program.