Don't Touch, Don't Buy
A recent Time magazine article summarized the latest findings from the increasingly sophisticated science of retailing. Researchers have found that touching a product in a store increases a shopper's sense of ownership (the "endowment effect"), and that increases the likelihood that he or she will buy the product. One retailer that maximizes this approach to retailing is Apple, which makes plenty of display products available for hands-on use.
Matt's View
My main interest in research like this is using it to defend people against marketing. Want to spend less? Don't touch the merchandise! Of course, this applies primarily to impulse purchases. If it's in your budget, you'd be foolish not to try before you buy.
This article filed in: Marketing , Psychology of Money , Spending
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