Commenting on Singaporeans travelling the world to watch Taylor Swift's concerts, SMU Associate Professor of Marketing (Education) Seshan Ramaswami said spending on experiences creates more lasting happiness for consumers than spending on tangible products. He added that local fans’ strong urge to catch the superstar as many times as possible can be due to the scarcity principle, where consumers are more inclined to purchase something in low supply and high demand. Assoc Prof Ramaswami also said the ability to watch Swift multiple times in the Asia-Pacific region can be a good opportunity, but cautioned consumers against being addicted to the emotional highs they get from splurging financially.
