That consumers derive greater happiness from experiences than from material possessions lets one significant fact go unnoticed: Some of the most satisfying experiences combine elements of both domains; there is no inherent tradeoff

What Makes People Happy? Decoupling the Experiential-Material Continuum. Evan Weingarten et al. Journal of Consumer Psychology, February 2022. https://doi.org/10.1002/jcpy.1291

Abstract: Extant literature suggests that consumers derive more happiness from experiences (e.g., vacations) than from material possessions (e.g., furniture). However, this literature typically pits material against experiential consumption, treating them as a single bipolar construct of their relative dominance: more material or more experiential. This focus on relative dominance leaves unanswered questions regarding how different levels of material and experiential qualities each contribute to happiness. Four preregistered studies (N = 3,288), using hundreds of product categories, measured levels of material and experiential qualities using two unipolar items. These studies investigate recalled, evoked, and anticipated happiness. Results show a more nuanced view of the experiential advantage that is critical for future research and consumer theory: material and experiential qualities both have positive relationships with happiness. Further, there is no inherent tradeoff between experiential and material qualities: consumers can enjoy consumption that is high on both (e.g., swimming pools and home improvements).