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Nostalgia Weakens the Desire for Money

Author

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  • Jannine D. Lasaleta
  • Constantine Sedikides
  • Kathleen D. Vohs

Abstract

Nostalgia has a strong presence in the marketing of goods and services. The current research asked whether its effectiveness is driven by its weakening of the desire for money. Six experiments demonstrated that feeling nostalgic decreased people's desire for money. Using multiple operationalizations of desire for money, nostalgia (vs. neutral) condition participants were willing to pay more for products (experiment 1), parted with more money but not more time (experiment 2), valued money less (experiments 3 and 4), were willing to put less effort into obtaining money (experiment 5), and drew smaller coins (experiment 6). Process evidence indicated that nostalgia's weakening of the desire for money was due to its capacity to foster social connectedness (experiments 5 and 6). Implications for price sensitivity, willingness to pay, consumer spending, and donation behavior are discussed. Nostalgia may be so commonly used in marketing because it encourages consumers to part with their money.

Suggested Citation

  • Jannine D. Lasaleta & Constantine Sedikides & Kathleen D. Vohs, 2014. "Nostalgia Weakens the Desire for Money," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 41(3), pages 713-729.
    • Handle: RePEc:oup:jconrs:doi:10.1086/677227
    DOI: 10.1086/677227
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    Cited by:

    1. Hinsch, Chris & Felix, Reto & Rauschnabel, Philipp A., 2020. "Nostalgia beats the wow-effect: Inspiration, awe and meaningful associations in augmented reality marketing," Journal of Retailing and Consumer Services, Elsevier, vol. 53(C).
    2. Pecot, Fabien & Merchant, Altaf & Valette-Florence, Pierre & De Barnier, Virginie, 2018. "Cognitive outcomes of brand heritage: A signaling perspective," Journal of Business Research, Elsevier, vol. 85(C), pages 304-316.
    3. Dongho Yoo & Jung-Ae Kim & Sun-Jae Doh, 2018. "The Dual Processing of Donation Size in Cause-Related Marketing (CRM): The Moderating Roles of Construal Level and Emoticons," Sustainability, MDPI, vol. 10(11), pages 1-21, November.
    4. Yi-Chi Chang, Yevvon & Wu, Pai-Lu & Chiou, Wen-Bin, 2021. "Thoughts of social distancing experiences affect food intake and hypothetical binge eating: Implications for people in home quarantine during COVID-19," Social Science & Medicine, Elsevier, vol. 284(C).
    5. von Wallpach, Sylvia & Hemetsberger, Andrea & Thomsen, Thyra Uth & Belk, Russel W., 2020. "Moments of luxury – A qualitative account of the experiential essence of luxury," Journal of Business Research, Elsevier, vol. 116(C), pages 491-502.
    6. Pade, Robin & Feurer, Sven, 2022. "The mitigating role of nostalgia for consumer price unfairness perceptions in response to disadvantageous personalized pricing," Journal of Business Research, Elsevier, vol. 145(C), pages 277-287.
    7. Han Ma & Hannah K. Bradshaw & Narayan Janakiraman & Sarah E. Hill, 2019. "Spending as protection: the need for safety increases preference for luxury products," Marketing Letters, Springer, vol. 30(1), pages 45-56, March.
    8. Shin, Hyunju & Parker, Janna, 2017. "Exploring the elements of consumer nostalgia in retailing: Evidence from a content analysis of retailer collages," Journal of Retailing and Consumer Services, Elsevier, vol. 35(C), pages 1-11.
    9. Şeniz Özhan, 2020. "The Effect of Nostalgia Proneness on Ad-Evoked Nostalgia, Brand Attitude and Purchase Intention," Istanbul Business Research, Istanbul University Business School, vol. 49(2), pages 380-390, November.
    10. Dovile Barauskaite & Justina Gineikiene, 2017. "Nostalgia May Not Work For Everyone: The Case Of Innovative Consumers," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 8(1).
    11. Kwan, Canice M.C. & Cheng, Shirley Y.Y. & Tsang, Alex S.L., 2023. "Societal reminiscence and decisions for a better society: A belief in progress explanation," Journal of Business Research, Elsevier, vol. 154(C).
    12. Xia, Lan & Roggeveen, Anne L., 2022. "How collective stress affects price fairness perceptions: The role of nostalgia," Journal of Business Research, Elsevier, vol. 152(C), pages 361-371.
    13. Kun Zhou & Xiaoyin Ye & Jun Ye, 2021. "Longing for the past and embracing the new: Does nostalgia increase new product adoption?," Marketing Letters, Springer, vol. 32(4), pages 477-498, December.
    14. Fabien Pecot & Altaf Merchant & Pierre Valette-Florence & Virginie de Barnier, 2018. "Cognitive outcomes of brand heritage: A signaling perspective," Post-Print hal-01831914, HAL.
    15. Naeem Gul Gilal & Jing Zhang & Faheem Gul Gilal & Rukhsana Gul Gilal, 2020. "Bygone days and memories: the effects of nostalgic ads on consumer brand resurrection movements," Journal of Brand Management, Palgrave Macmillan, vol. 27(2), pages 160-180, March.
    16. Chark, Robin, 2021. "Midnight in Paris: on heritage and nostalgia," Annals of Tourism Research, Elsevier, vol. 90(C).
    17. Hartmann, Benjamin J. & Brunk, Katja H., 2019. "Nostalgia marketing and (re-)enchantment," International Journal of Research in Marketing, Elsevier, vol. 36(4), pages 669-686.
    18. Zhang, Xiadan & Gong, Xiushuang & Jiang, Jing, 2021. "Dump or recycle? Nostalgia and consumer recycling behavior," Journal of Business Research, Elsevier, vol. 132(C), pages 594-603.
    19. Xun (Irene) Huang & Zhongqiang (Tak) Huang & Robert S. Wyer, 2016. "Slowing Down in the Good Old Days: The Effect of Nostalgia on Consumer Patience," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 43(3), pages 372-387.

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