Tis The Season
So, Christmas is upon us. And what does that mean? Shopping.
Oh sure, there are much more important things about Christmas that we love and often get lost in the shuffle. It’s often because stores are competing for your hard-earned money, and going to great lengths to get you to spend your dollars with them and not somewhere else.
I’ve always been interested in Psychology, which was my minor in college (read: 5 random classes in the same field). I love trying to figure out the tactics and mind games that stores go through to get you to stay with them. Since we are in the midst of a battle, we need to be aware of how we are being attacked. For the next few posts, I’d like to look at some different strategies they use.
This is one of my favorites: Anchoring.
In this strategy, stores sell several similar items at different prices. One model tends to be ridiculously expensive. The retailers never expect to sell many of these- they are simply there to make you feel better about buying the less-expensive model. Both could still be massively overpriced items you will never need, but the fact that you pay “less than you could have” makes something that much more attractive.
Similar to this is the method yogurt companies use to sell their product. 95% fat free! Sounds like a bargain, right? How many do you think they would sell claiming 5% fat? Not many.
