Entries in Consumerism (5)
Is Happiness Just an ATM Withdrawal Away?
Next time someone repeats that old adage "money can't buy you happiness," tell them you're not so sure. As long as you know where to spend it, it just might do some good.
That's what Harvard marketing professor Michael I. Norton and his colleagues found in their happiness research, concluding that "how people choose to spend their money is at least as important as how much money they make."
The article ("Spending on Happiness") in HBS Working Knowledge reports that "money can buy happiness, when people spend that money prosocially on others (giving gifts to friends, donating to charities) rather than on themselves (buying flat-screen televisions)."
Interesting results, which dovetail with our findings in studying youth happiness for MTV Research -- we concluded that money is increasingly seen by Millennials as a means rather than an end. See the full report in pdf and our webpage about the study.
Image: Social Technologies
Chris Carbone
in Values and Attitudes, Future of Happiness, Consumerism
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A Futurist in Dubai: Luxury, Dubai-Style
Friday proved to be my first true introduction to luxury, Dubai-style.
For most of the morning, I explored two of Dubai’s largest upper-income malls: Burjuman and Wafi.
The Wafi is a celebration of everything that is over the top about Dubai. Arab fashion boutiques offering hand-stitched, made-to-order haute couture sit beside interior decorating stores (with all products made in limited editions, solely for individual outlets) and luxury European clothing and fashion shops, filling the mall with hundreds of high-end retailers, all within the context of an elaborate ancient Egyptian theme, replete with faux-Egyptian décor and a pyramid-shaped restaurant and spa (named, you guessed it, The Pyramids). The Burjaman mall was likewise crammed with one luxury product after another, from $1,000 sunglasses to $20,000 pearl necklaces.
After a morning surveying the luxury malls, I returned to the Mall of the Emirates to experience Ski Dubai, the first indoor ski resort in the Middle East. Ski Dubai boasts almost 250,000 square feet of terrain….however, out on the slopes, the place felt rather…tiny. With a capacity of only 1,500 people and a maximum run of around 400 meters, Ski Dubai is primarily a novelty attraction, aimed at beginners and tourists. When I visited, I was surprised by several things—not the least of which was the relative lack of crowds on the slopes (not to mention the Western pop music blaring in the background). I was also surprised by its affordability—at around $35 dollars for 2 hours of slope time, clothing, and equipment, it falls solidly within the budget of middle-income travelers. The mix of cultures was likewise not what I expected: though I did encounter one gaggle of Arab kids learning to ski, by and large the slopes were filled with European and Asian tourists. While interesting (and fun), it was not the luxury experience that I anticipated coming in.
Matt Sollenberger
in Futures Expeditions, Consumerism, Middle East
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A Futurist in Dubai: Bring on the Mega-Malls
After my meeting with FX Fowle, I went to visit Diera City Center mall, one of the major middle/upper-middle income malls in Dubai.
It was quite the eye-opener…with more than 370 stores, and parking decks that seemed like they could fit the entire Hyderabad airport (including a play area/arcade that I know for certain was several times larger than the entire departure waiting area in Hyderabad)….this thing was big, more than a little fancy, and also showcased an amazing variety of cultural flows.
The mall had everything—from a Carrefour and a Virgin megastore, to an 11-screen cinema, myriad restaurants and a massive food court (which, aside from the occasional Arabic lettering and prominence of Asian fusion, could fit right in at any American mall), and of course, more clothing, jewelry, and computer game stores than you could shake a stick at. It’s quite the popular hangout—on weekend nights (Thursday and Friday are the official weekend in the UAE), the taxi queues can run up to two or three hours!
Matt Sollenberger
in Futures Expeditions, Consumerism, Middle East
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S)T in the News: Experiential Gifts
Your friends seem to have everything, or are steering clear of accumulating more "stuff," so what do you buy them this holiday season?
In a December 14 article for The Washington Post Express, reporter Kris Coronado suggested Washingtonians tap into a new trend of buying experiential gifts. "Whether it's climbing Machu Picchu or an IOU for a trip to the zoo, gifts one does instead of throws in the back of a closet are becoming a favorite option of buyers," she wrote in her article, "Experiential Gifts Create a Can-Do Spirit".
For insight into the trend, Coronado turned to Social Technologies' Director of Programs Chris Carbone:
The last five years have seen a definite shift toward such gifts, says Chris Carbone of Social Technologies, a D.C.-based firm that tracks consumer trends. "We have enough spin in politics and in reality TV shows that turn out to be staged," he explains. "In our own lives, we're looking for something more real and genuine. Experiences are as real as it gets."
What are some of the best picks? Coronado suggested a handful of ideas, including steel drum lessons, home hennas, and zipline tours.
What do you think? Post your comments about some of the best experiential gifts you are giving this holiday season.
Image: welsh boy (Flickr)
Hope Katz Gibbs
in Press, Consumerism, Social Life
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Consumed by Consumerism
The Mall of America. Image: Social TechnologiesIs our consumer society sustainable?
That's the question posed by Public Radio's ongoing series on sustainability, "Consumed."
A brief scan of some of the headlines on the site -- such as "Greed as a disease" -- suggests that they've decided that the answer to their main question is a resounding "no." Still, most of the stories are focused on potential implications and solutions rather than on doling out blame. Anyone interested in how consumerism and sustainability could increasingly clash in the next few years should explore the site.
Kyle Spector
in Sustainability, Consumerism
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