Some interesting info on the psychology of shopping found on Clikz.com.
Most of this you will have seen or experienced before, but perhaps not been aware of the psychology behind it. Well worth a read if you’re a retailer (though it’s relevant for anyone selling stuff in any environ). The speed reader’s version is below:
- It’s not myth, buyers do react better to $19.99 than $20.
- People experience a heightened awareness about products after having a friend or colleague discuss them (though this one’s a fairly impossible phenomenon to control.
- Choosing the products that are marketed together can dramatically affect which products people buy.
- Creating urgency and scarcity are always smart moves.