Fascinating learnings from this video:
- 90% of what we buy are unconscious decisions
- 60% of what we buy is decided in 4 seconds
- The size of the shopping basket – the bigger the shopping basket, the more shoppers will put in. There is a subconscious need to “fill up” the cart
- The presence of other shoppers in a store influences you to buy the more “premium” item. Without the presence of other shoppers, you would buy the cheapest brand available. Apparently, there is some subconscious desire to show/portray an image to the other shoppers that you can afford better stuff! This is why stores 1) make sure that there are lots of people/traffic within and 2) are designed in a way that shoppers can see each other.
- 2-for-the-price-of-1 deals are sometimes not a deal at all! 2 trays of strawberries may contain less strawberries than one large one. Yet consumers will always go for the 2 trays – because they think they are getting a deal.
- Limiting quantities for purchase – by just adding the phrase “Limit 3 per customer”, retail stores create a false sense of scarcity and limitation. Shoppers react by being greeding and buying the maximum amount allowed to them in order to ensure they don’t “lose out” – even if they never intended to buy that many quantities of the same product!
- The smell of fresh cut grass in a DIY store subconsciously influences customers to think that service levels have increased (in Lindstrom’s experiment, by 49%!). This is because scent is a good trigger for subconscious feelings and memories.