The Psychology of Buying

Great video from Martin Lindstrom, the author of Buyology. (free chapter here)

Some interesting tips:

  • Bigger actual shopping baskets leads to bigger metaphorical shopping baskets
  • Peer pressure increases the purchase of premium items
  • Some 2-for-1 deals are actually deals for the merchant (e.g. 0.8-for-1 deals which mean you lose out)
  • Create demand with the illusion of scarcity
  • We buy with our noses as well as our eyes
  • Always take your magazine/newspaper from the top!

Not mentioned:

  • Marketing
  • Social media

Ultimately, all the work we do needs to be backed up at the point of sale – and our work needs to support the point of sale experience.

via Guy Kawasaki’s Holy Kaw site.

One Response to The Psychology of Buying

  1. […] 2010-03-19T10:19:41  bought this book for the flight to/from YVR this week. excellent so far! [link to post] […]

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