We Love To Treat Ourselves, But How We Do That Is Changing
How often do you treat yourself? Well according to this we Americans spend $143,280 to “treat ourselves” in a lifetime, but it seems it's not all chocolate and spa treatments.
In fact, three in five would prefer to indulge in an “IRL” luxury experience, like a backstage pass to see their favorite artist, or over a luxurious item like a designer handbag. And the average American will shell out over as much as $368 on a special, one-time experience.
This is based on findings from a new study exploring the average “treat yourself” behaviors of 2,000 American adults, conducted by OnePoll in conjunction with Eventbrite, a ticketing and event technology platform that powers millions of events around the world.
They found out that the average American spends $199 a month, or about 22% of their disposable income, on non-essentials for themselves including both traditional “self-care” treats and restorative or luxury experiences.
Women are three times more likely to indulge in self-care experiences like massages and spa days, while also prioritizing invigorating travel experiences or self-development classes more than men.
On the other side, men showed a greater inclination towards spending on material items like cars and new technology.
But why do Americans feel more guilty spending on material items, compared to spending on experiences?
This may be because experiences are more closely tied to personal identity and fulfillment, two-thirds said they’d rather be known for experiences they’ve enjoyed over the things they own. In the same manner, nearly half agree that the events and experiences they attend say more about who they are than the clothes that they wear.
The study reinforces a fundamental shift taking place, where people are prioritizing spending on experiences or rejuvenating acts over material goods, and the booming experience economy shows no sign of slowing; 62% of Americans polled want to treat themselves more often than they do now.
61% of Americans consider time spent offline to be more fulfilling than time spent online via social media.
And the movement away from social media could, somewhat ironically, be leading to more socially rewarding lives.
Two in five Americans have developed meaningful new relationships whether it be a friend, spouse or business contact — as a result of an in-person or live experience like traveling or attending a concert.
Average Lifetime Spending
$199 in a month times 12=
$2388 in a year x 60=
$143,280 in a lifetime
Top 5 Reasons Americans Spend Money On A Luxury Event Experience
To treat me
To do something special with a friend/partner
To share the experience via social media
To brag about it to my friends
To avoid inconvenience (i.e. lines, crowds)