James Hamblin has answered the question

In his essay “Buy experiences not things,” James Hamblin tackled the issue of whether people should spend their money on experiences or products, and as a result, people no longer have to think about whether they should choose between the two. According to Kumar, people are even happier when they purchase interactions rather than material objects. “Think about how different waiting for a wonderful meal at a good restaurant or looking forward to a holiday sounds from waiting for, say, your pre-ordered iPhone to arrive.” (Hamblin 3). I think experiential purchases should be given more priority than material purchases in view of their capacity to collect utility value even before the item is purchased. Vitally, the experiential purchases evoke happiness. I think Gilovich offered fascinating knowledge by saying that individuals who purchased experiences in most cases did not measure their value in contrast with others than the individuals who purchased material belonging. “Would you rather have two weeks of vacation when your peers only get one? Or four weeks when your peers get eight? People choose four weeks with little hesitation” (Hamblin 4).
Hamblin explains that experiential purchases are related with character, social conduct and connections ’Experiential purchases are also more associated with identity, connection, and social behavior’ (Hamblin 4). I would include feelings also. However, the loveliest contention develops in the proposition, due to the fleeting way of experiences that individuals purchase which makes the individuals to endear to them than the permanency of material belonging. For instance, a seat that one has purchased that he/she sees as ordinary and maybe fails to appreciate.
In summary, I trust that experiences have granted me enormous happiness and delight. I am certain it has been the situation with many individuals. Experiences overwhelmingly consume our time, but are a reason for our happiness.

Work Cited
http://www.theatlantic.com/business/archive/2014/10/buy_x005Fexperiences/381132/