You May Live Rich But Not Own A Lot

There’s a change in how people invest their time and energy. Millennials and Gen Z are deliberately choosing to prioritise moments that create lasting memories over accumulating material possessions. A TransUnion Consumer Pulse study found that Kenyan millennials and Gen Z directed more of their disposable income towards digital services and experiences rather than large purchases.

Part of this transformation is rooted in economic reality, with the rising cost of living making traditional milestones like home ownership feel less urgent. In response, many people are recalibrating their priorities and embracing joy in the present in accessible and deeply personal ways.

But economics alone can’t explain the rise of experience culture. Technology has played a crucial role in shaping how experiences are valued and shared. Social media has turned everyday moments into opportunities for personal storytelling that carries some social currency. Moments are documented, shared, and revisited in turn reinforcing the idea that experiences, rather than objects, are what truly enrich our lives.

Yet, to reduce this trend to economics or online validation is to do it severe injustice. At its core, experience culture is about connection and community. Kenyans, and people all over the world, are seeking out opportunities to be present with one another, to build relationships through shared activities, and to create rituals that bring meaning to everyday life.

With this shift, homes have emerged as a central stage for these experiences. Dinners with close family, house parties with friends, football afternoons, and birthday parties all happen more at home.

This renewed focus on the home reflects a broader desire for intentional living. Experiences do not always require elaborate planning or significant expense. Often, it is the simple, consistent rituals that form the backbone of meaningful relationships. Repeated over time, these moments build a sense of belonging and continuity that material possessions cannot replicate.

Initiatives like LG Electronics East Africa’s Trek To Love campaign not only tap into the emotional power of relationships but also actively encourage it. Kenyan social media users were requested to showcase how they enjoy time together to connect. The results were astonishing. Submissions came in showing people enjoying the low-cost but high-reward instances like a quiet evening at home or just dancing in the living room. Exercising in the outdoors also emerged as a fan favourite.

Such efforts that indicate brands have their fingers on the pulse of the nation succeed because they align with a growing cultural truth that people are drawn to what helps them feel something real.

This emphasis on experience is also influencing how success is perceived as traditional markers like titles and material possessions are being complemented by more intangible measures such as a rich social life, strong personal relationships and a sense of adventure.

It is important to note that this shift does not signal a rejection of material comfort or quality. Rather, it reflects a more thoughtful approach to consumption. The focus is less on ownership for its own sake, and more on how something fits into a broader lifestyle centred around living well.

Experiences tend to generate lasting happiness in ways that possessions often do not. They are tied to emotions, relationships, and personal growth. Even when they don’t go as planned, they become stories fuelling nostalgia for years to come.

Considering the uncertainty that plagues the world today, the orientation towards experience offers a form of resilience by encouraging adaptability, presence, and gratitude for the moment at hand.

As this culture continues to evolve, it is likely to shape individual choices and broader societal norms. Homes will be built and designed to welcome communities, however small. Urban spaces may increasingly cater to communal activities. Workplaces will place greater emphasis on work-life balance and meaningful engagement.

What emerges is a portrait of society that is differently ambitious and redefining what it means to live well. In doing so, we are all reminded that the shared experiences and shared moments are what make life good.

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The writer is the Regional Head of Marketing at LG Electronics East Africa