Retailers have become increasingly sophisticated and savvy in their approaches and strategies of parting consumers from their money. A range of methods are used in grocery markets and other shops shops to create the right psychological conditions for consumers to buy what the retailers want them to buy: for example the smell of freshly-baked bread is frequently circulated through a supermarket to stimulate demand for bakery products, or simply to make shoppers feel hungry.
Shopping is a major leisure activity today, and many people spend their weekend and other free time shopping. The question is: Why is this and what do we get out of the shopping experience? Some of the standard successful techniques used to psychologically influence us to shop are the following:
· Setting the price at a psychologically sensitive point, for example at $49.99.
· Placing so-called ‘anchor’ stores in shopping centers to attract people and. increasing sales throughout the mall by increasing the exposure of other stores.
· Products that elicit impulse buys are placed at the ends of aisles.
· Premium brand products are placed close to own-brand products to lead the consumer to buy a cheaper choice own-brand item rather than the premium priced.
· Stacking the products with the highest margins (products that give highest profits) at eye-level, since consumers are more likely to buy them when in their line of sight.
By understanding these and other psychological methods that retailers use to influence us, we can make better judgment and choices, which eventually will lead to better deals.
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