To Possess or to Experience: Personal Values and Sociocultural Context Moderated Age Differences in Purchase Evaluations

Purchase decisions have important implications for consumers' well-being. Age-related motivation changes may affect purchase preferences, while personal values and sociocultural context can moderate the age differences. This study investigates age-related differences in experiential versus material purchase evaluations and the moderating effects of personal values and sociocultural contexts with participants aged 20-78 years from the United States (N = 201) and China (N = 212). A significant country × personal value × age three-way interaction on purchase evaluation was found. Age was negatively related to experiential purchase preference for Chinese participants with lower self-transcendence or openness-to-change values. Such a relationship became weaker or even positive for Chinese participants with higher self-transcendence or openness-to-change values. However, no age-related main effects or interactions were significant in American participants. The study provides insights into age-related differences in consumers' purchase preferences and highlights the critical roles of personal values and sociocultural contexts.