Nostalgia EffectOpen Access

Nostalgia Effect

Thinking about the past makes us want to spend more now

Recent research suggests that reminiscing about the past weakens our desire to hold on to money, instead fostering social connectedness.

Lasaleta, J. D., Sedikides, C., & Vohs, K. D. (2014). Nostalgia weakens the desire for money. Journal of Consumer Research, 41(3), 713-729.

The study

Setup

129 people were split into 2 groups, with half asked to either write about a time when they felt nostalgic or a neutral event. After writing, everyone was given $5 to distribute between themselves and a random other.

Results

The results showed that on average, neutrals only gave away $1.43, whereas nostalgics gave $2.

Study graph

Key Takeaways

Understand what nostalgia means for your target audience. Brands, products and campaign messaging can all gain from referring to the past to loosen our wallets. Nintendo are now rereleasing their 1985 NES console, for example.

Takeaway image

Use to promote social behaviour. Since nostalgia causes a reduction in one’s desire for money,  it can instead be used to increase charitable donations or promote participation in a charitable event. 

Takeaway image

Digital nostalgia is growing, as our online history of archived experiences deepens. The opportunity to capitalize upon this powerful effect will only increase. e.g. Facebook is now reminding us of our past experiences, using nostalgia to keep us emotionally bound to their network.

Takeaway image
Takeaway image
Nostalgia Effect

Nostalgia Effect

Thinking about the past makes us want to spend more now

Recent research suggests that reminiscing about the past weakens our desire to hold on to money, instead fostering social connectedness.

The study

Setup

129 people were split into 2 groups, with half asked to either write about a time when they felt nostalgic or a neutral event. After writing, everyone was given $5 to distribute between themselves and a random other.

Results

The results showed that on average, neutrals only gave away $1.43, whereas nostalgics gave $2.

study graph
np_read_2490885_000000

In detail

Hungry for more?

Savour the full features of Coglode Cookbook

Upgrade

All Nuggets

Academic data

Key takeaways

Pairings

Cheat Sheets

Collect Nuggets

Nuggets In The Wild

Coglode Live monthly

Nuggets In The Wild

Related "Wilds"

Currently being sourced...
Nuggets

Snack on these...

Open access, foundational Nuggets

Scarcity

Scarcity

We value things more when they’re in limited supply

Social Proof

Social Proof

We copy the behaviors of others, especially in unfamiliar situations

Prospect Theory

Prospect Theory

A loss hurts more than an equal gain feels good

Reciprocity

Reciprocity

We’re hardwired to return kindness received

Framing

Framing

We make very different decisions based on how a fact is presented

Loss Aversion

Loss Aversion

We feel more negative when losing something than positive when we gain it

Default Effect

Default Effect

We tend to accept the option pre-chosen for us

Anchoring

Anchoring

What we see first affects our judgement of everything thereafter

Fast & Slow Thinking

Fast & Slow Thinking

We make knee-jerk spontaneous decisions that can cause regretful damage

Dynamic Norms

Dynamic Norms

We’re more likely to change if we can see a new behavior developing

Salience

Salience

Our choices are determined by the information we're shown

Connected to

Hungry for more?

Savour the full features of Coglode Cookbook

All Nuggets, data & takeaways

Academic data

Key takeaways

Pairings

Cheat Sheets

Collect Nuggets

Nuggets In The Wild

Monthly Coglode Live calls

Upgrade

Join Coglode Live!

October 19, 2022 16:00

GMT

Limited Choice
We’re more likely to decide when the options are sensibly restricted

Join us as we dive deep into one of the key paradoxes of modern consumerism.

We'll explore:

• The theory behind why choice is so important, yet also the pitfalls from too much of it
• Brand new research that pushes our understanding further
• How to redesign choice with real world before and after examples

As normal, it'll be highly interactive, so join us for the fun. It's your choice!

Show more
Limited Choice
We’re more likely to decide when the options are sensibly restricted
Sign up to attend

Running workshops?

Nostalgia Effect

is included in Box One of our physical workshop tool.
is included in Box Two of our physical workshop tool.
Nuggets Boxes