Dual-theory of experiential consumption and material consumption: Phenomenon, mechanism, and influence factors

Abstract

China has already entered an important stage of both the consumer demand sustained growth and consumption structure upgraded being speeded up, thus the question of how to make the happy consumption or how to "buy" happiness has caused wide concern in public and government. Psychologist found that people derive more happiness from experiential consumption than from material consumption. And money priming would activate "value maximization mindset"; time priming would activate "emotional mindset" on the other hand, then to influence consumer's decision-making. Based on these findings, this project started from the perspective of dual-process theory, using both the method of behavioral science and cognitive neuroscience, to reveal essence of the phenomenon of dual cognitive processing in consumer decision, and to clarify the relationship between money, time, consumer and happiness.