Traveling, Dining, and Concerts are The Most Popular Experiential Purchases, Studies Show

Separate studies run by BeyondThePurchase.org, a project of San Francisco State University, and Ranker.com yielded the same list of desirable experiential purchases.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
Our research indicates that crowdsourcing may offer a convenient and scientifically valid method for organizations to study consumer psychology.

San Francisco, CA (PRWEB) May 16, 2013

Recent studies on the relationship between money and happiness have shown that individuals who purchase life experiences are generally happier than individuals who purchase material items. As part of an ongoing investigation into the types of life experiences that are most popular, the research website BeyondThePurchase.org recently conducted a survey to identify the types of experiences that are most appealing to people to purchase. They also wanted to know which life experiences are least popular and appealing.

After obtaining their survey results, the researchers also collected data through the crowdsourcing website Ranker.com, to see if the findings would replicate. The researchers asked visitors to Ranker the question "What is the best way to spend $100?"

A research team at San Francisco State University, led by Professor Ryan Howell, found that data collected via these two websites was nearly identical to data collected through traditional online sources. Most importantly, the top five most preferred experiences on BeyondThePurchase matched the top five ranked experiences on Ranker exactly. When rating or ranking life experiences, the top five choices found in both studies were:

1. Traveling
2. A Dining Experience
3. A Concert
4. Museums
5. Massage

A similar, though not quite identical, pattern was found for the least popular experiences. Listed below are the lowest ranking experiences on Ranker, with the BeyondThePurchase rankings in parentheses:

1. Hunting (Last)
2. Manicure (Middle)
3. Golfing (Second to Last)
4. The Opera (Middle)
5. Bungee-jumping (Third to Last)

“With crowdsourcing becoming increasingly common, it is important to evaluate the quality of this data, as compared to traditional research methods," said Graham Hill, community manager of BeyondThePurchase.org. “Our research indicates that crowdsourcing may offer a convenient and scientifically valid method for organizations to study consumer psychology.”


Contact

Follow us on: Contact's Facebook Contact's Twitter