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| Money-Saving Shopping Tip: Look, But Don't Touch |
Submitted by:
Tip Hero 05/13/2009 1:14 PM
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Perhaps online shopping has yet another benefit: You can look, but you can't touch. A new study published in the Journal of Consumer Research, according to a recent Time magazine article, notes that "consumers who touch products in the aisles will pay more money for them than those who keep their hands off the merchandise."
The Time article points out that one of the best-known marketing campaigns, "Don't squeeze the Charmin", may have actually been the wrong message to present to consumers. Maybe sales would have been higher had consumers been encouraged to give it a squeeze -- or at least a touch.
Why does touching an item increase the likelihood of purchase? The motivation traces back to what behavioral economists have labeled the "endowment effect." This phenomenon posits that consumers value a product more once they own it. And simply touching that Charmin may increase a shopper's sense of ownership and compel the consumer to buy the product.
"When you touch something, you instantly feel more of a connection to it," says Suzanne Shu, a marketing professor at UCLA's Anderson School of Management and co-author of the study. "That connection stirs up an emotional reaction — 'Yeah, I like the feel of it. This can be mine.' And that emotion can cause you to buy something you never would have bought if you hadn't touched it." The article goes on to describe a study the researchers conducted that led them to conclude that touch can make a big difference in our purchasing behavior.
While cash-strapped shoppers might want to start tying their hands behind their backs, retailers should hang signs that say "Feel me."...
...Apple openly invites its customers to fidget with its gadgets, and once you start playing with the iPhone, it's awfully hard to leave the place without one. Want to Save Some Money? Shop Without Touching (Source: Time magazine)
Do you think you've ever made a purchase in part because you touched the product first? Do you think you'll change your shopping behavior as a result of this new research? Tell us what you think by posting a comment below!
Photo credit: Perfecto Insecto |
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