Experience is best
Gratitude may not be the first thing that comes to mind when thinking of consumerism, but a study from Cornell University shows that thinking about experiential purchases (e.g. travel, meals out, tickets to events) is more likely to invoke gratitude and lead to generous behaviour than when thinking about material purchases (e.g. clothing, jewellery, furniture).
Research in the Journal of Retailing shows people can multitask while shopping but their mindsets matter. This blog explains how multitasking affects consumer decision-making. If in a how (implementation) mindset, multitasking doesn’t impact your shopping but if in a why (deliberation) mindset, higher levels of stress can have negative effects.
Tarun Ramadorai, professor of financial economics, in this video says that consumer choices are at the heart of the mortgage market. Behavioural issues such as self-control problems, inattention, and inertia make it difficult for them to save for the future or to quickly refinance their mortgage to respond to changes in interest rates.