Description

Recent research into nostalgia demonstrates that reminiscing about the past leaves us wanting to spend more money now. When reminiscing, our values sway more strongly towards social connectedness and away from wanting to hold our money. As a result, our willingness-to-pay increases markedly after experiencing nostalgia. As a result, marketing campaigns often aim to create such feelings among consumers.

Example

A study by Lasaleta, Sedikides, and Vohs (2014) found that participants who were shown nostalgic advertisements had a higher willingness-to-pay immediately afterwards than those who were shown neutral advertisements.

Further Reading

The Decision Lab

The Decision Lab is a think tank focused on creating positive impact in the public and private sectors by applying behavioral science.

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