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I agree that there's been a move to split "Store Brand X" into "Store Basics X", "Store Brand X" and "Store Finest X", and that the "basic" product is often per
by chriswarbo 8y ago
I agree that there's been a move to split "Store Brand X" into "Store Basics X", "Store Brand X" and "Store Finest X", and that the "basic" product is often perfectly good.
However, for broader product categories, there's also a tendency for the most and least expensive products to be outliers, with the cheapest being barely enough to justify the label and the dearest being aimed at rich suckers. Hence the heuristic of getting the 2nd cheapest (especially if it's a one-off consumable, where savings won't accumulate); or, if splashing out, getting the 2nd most expensive.
In my experience this definitely applies to things like wine and chocolate, where the scale is roughly:
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- rlue 8y agoIn some cases, businesses know consumers are following some heuristic like this, and counter-strategize accordingly (or so I've heard). According to this 2013 blog post[0], > Restaurants realize that many people won’t order the least expensive wine (no one wants to look like a cheapskate!) so they often go for the second cheapest. That’s exactly why it’s often the most marked-up bottle on the list. [0]: https://web.archive.org/web/20131210062034/http://www.urbanspoon.com/blog/2013/12/10-things-restaurants-arent-telling/ https://web.archive.org/web/20131210062034/http://www.urbans...