The way you display a price has a surprising effect on how consumers gauge the magnitude of the price. It's important to read the price aloud as a consumer might, as more syllables in the price make it seem higher.
Long before the Mad Men era, advertising experts knew that certain words get the attention of readers and spur them to action. One word has made just about every top ten list, and new research from Kantar Media shows this word remains as powerful in the online world as it was in print. The study surveyed at a large number of online shoppers (2500+) to determine what would motivate them to place an order.
Here’s the list of factors that motivated buyers: […]
Book Review: Brain Bugs: How the Brain's Flaws Shape Our Lives by Dean Buonomano
Ask catalog or Internet retailers what a return cost them, and they will likely be able to cite some very specific numbers reflecting shipping costs, processing labor, damaged packaging, and so on. But it turns out there’s a specific value that customers apply to returns, or, more accurately, the OPTION of returning a product. That value varies by the type of product, the product price, and other factors. […]