Tapping Into the Mind of a Shopper “People focus very narrowly and they don’t go beyond what’s in front of them,” says Shane Frederick, an associate professor at Yale School of Management, who decided to study this phenomenon after his own, agonizing hour in the electronics store ended when he bought the cheaper car stereo system – only after the salesman pointed out the savings could buy a pile of CDs. “I went from being completely indifferent to seeing clearly which stereo was better. I was fascinated and embarrassed by it.” Miami Herald, 07 March
Emotions Will Unlock Your Wallet, Study Finds A research study into buying habits of “happy” consumers says you will probably go for the watch because its showiness complements your feeling of pride. The study, to be published in the Journal of Consumer Research from Chicago found that contentment makes consumers seek familiar places to “savor and integrate” their pleasant emotions. By Trish Crawford, The Star, 22 February
Shoppers Choose to Touch and Feel The ‘Amazon effect’, whereby consumers were meant to abandon shops in favor of delivery to the door, turns out to have been sector-specific. True, some retailers, such as French firm Fnac, have suffered from 10% of retail migrating online. But outside of books and music downloads, consumers seem unable to renounce look-and-feel. IPE, 09 March
Reaching Affluents on Social Nets Based on a study from Unity Marketing, the outlook is mixed. Most affluents use social networking sites to hear about their friends and family and reconnect with old friends – not to connect with brands. Just 7% logged on to look for offers or research purchases, while 6% went social to share or buy products or look for coupons. EMarketer.com, 08 March
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