Memories are the new Mercedes Benz. The shift to experiences rather than material things accelerated, often out of need, during the Great Recession. It follows academic research showing that people get more lasting pleasure from activities rather than possessions. But the trend continues to gain momentum every time a boomer retires and looks to the next two decades as a time to find meaning—or just have plain old fun. Retirees will have 2.5 trillion hours of leisure time to fill over the next 20 years, according to a report from Bank of America Merrill Lynch.

Topics:  mercedes   benz   recession   retirees   bank   america merrill   designer karl lagerfeld   macau   china   armani   missoni   bulgari   versace   new york   times    there   brexit   u.s    europe   boot   merrill   lynch   business   luxury goods   spend   travel   activities   experiences   spending   material   people   great   trillion   report   fancy   sales   friends   
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