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.
