What Today’s Consumers Value Most
The sharing economy has shifted spending behaviours from ownership to experiences and made trust even more important, according to new reports
New, exciting experiences are trumping ownership as the new status symbol, according to a recent study from Capital One. Last year, the credit card company hosted its inaugural C1NDX, a roundtable with journalists, academics and industry experts that focused on how disruptive technology is impacting consumer spending habits. Capital One also partnered with Vision Critical on a survey of 1,500 Canadians.
One of the key findings was Canadians value experiences over ownership, so much so that 85% would rather have two years of amazing experiences (including travel, concerts and dining out) than upgrade from an affordable car to a luxury vehicle. In addition, 32% of millennials would rather have two years of amazing experiences than own a house.
“No longer are Canadians valuing what historically was the measure of success, which...
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