Monday, January 19, 2009

You Touch It, You Buy It Study


Coming across Yahoo! News last Friday was a very interesting article, titled "Study: You Touch It, You Buy It". It's written by Andrea Thompson from Livescience.com.

I am copying the article here, with proper credits given to its author and such! Read on...




"'You've heard of "you break it, you buy it," but what about "you touch it, you buy it?"

A new study suggests that just fingering an item on a store shelf can create an attachment that makes you willing to pay more for it. Previous studies have shown that many people begin to feel ownership of an item - that it "is theirs" - before they even buy it. But this study, conducted by researchers at Ohio State University, is the first to show "mine, mine, mine" feelings can begin in as little as 30 seconds after first touching the object.

Participants in the study were shown an inexpensive coffee mug, and were allowed to hold it either for 10 seconds or 30 seconds. They were then allowed to bid for the mug in either a closed (where bids could not be seen) or open (where they could be seen) auction. The participants were told the retail value of the mug before bidding began ($3.95 in the closed auction; $4.95 in the open auction).

The study, detailed in the August 2008 issue of the journal Judgment and D
ecision Making, found that on average, people who held the mug for longer bid more for it - $3.91 to $2.44 in the case of the open auction and $3.07 to $2.24 in the closed. In fact, people who held the mug for 30 seconds bid more than the retail price four out of seven times.

"The amazing part of this study is that people can become almost immediately attached to something as insignificant as a mug," said study leader James Wolf, who began the work while he was a graduate student at Ohio State. "By simply touching the mug and feeling it in their hands, many people begin to feel like the mug is, in fact, their mug. Once they begin to feel it is theirs, they are willing to go to greater lengths to keep it."

Retailers have been using the try-then-buy tactic for years, said Wolf, who is now an assistant professor of information systems at Illinois State University. For example, car dealers routinely send prospective buyers out on test drives, and pet shop owners encourage people to play with the puppies in the window.

Understanding the attachment this tactic can create could make consumers aware of their own susceptibility, Wolf said.

When testing out new cars, for example, and "going in there knowing that you are going to feel like raising your price, maybe you can be better prepared not to make a hasty purchase that you'll regret later on," he said.

The study was funded by Ohio State's Jensen-Wallin-Young Fund and by Illinois State's Caterpillar Scholars Fund."'



Click HERE for the original article! Fascinating, isn't it?

Please leave me a comment about what you think of the study. Is it valid, do you think it's true? Give me your opinion please! })i({


3 comments:

MyGemStoneBox by Diane said...

Interesting Jamie, makes our jobs all the more difficult without being able to rely on that tactile interface here on the internet!! What I find interesting is the extent people will go to get what they perceive is theirs!! Very interesting.
Best,
D
http://mygemstonebox.blogspot.com

Bev's Jewelry / www.bevsjewelry.1000markets.com said...

Thanks for sharing that information. It is helpful but as Diane pointed out not helpful for internet providers. Could more descriptive, inviting words help? Something to think about.
Bev

Lenox Knits said...

I just blogged about this exact article. I've decided that craft shows are the way to go for me and I'm also going to try to get myself into some boutiques for next year. I love my on-line venues but with some items you really need that tactile experience.