Abstract

The purpose of this study was to find out how the characteristics of a person influence the choice between material and experiential consumption and relate to purchase satisfaction and consumption happiness. Gender, age, income, and occupation group as demographic variables, as well as price sensitivity and self-monitoring as psychological variable affecting consumption type were considered. Major research results showed that men prefered material consumption, women prefered experiential consumption, and the higher the income level was, the higher the preference for experiential consumption was. Analyzing the choice of consumption type depending on consumer’s psychological traits, the high price sensitivity tended to choose the material consumption, but self-monitoring was found to be meaningless. On the effect on purchase satisfaction and consumption happiness, it was found that age, income, self-monitoring, and price sensitivity had a meaningful effect on purchase satisfaction, and consumption happiness had a meaningful effect on age and self-monitoring. In the interaction effect of psychological variables and consumption type selection on purchase experience, the interaction between price sensitivity and consumption type was found to have an effect on purchase satisfaction and the interaction between self-monitoring and consumption type was found to be meaningful in consumption happiness. The results of this study will be helpful for understanding what personal factors are important when consumers choose a consumption type, and for preparing strategies to increase consumer’s purchase satisfaction and consumption happiness to practitioners involved in marketing or consumer policy.