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I'd love to read some research on why consumers are so infatuated with discounts/sales. We've all had friends/spouses boast about buying things on sale; it does
by MatthewPhillips 14y ago
I'd love to read some research on why consumers are so infatuated with discounts/sales. We've all had friends/spouses boast about buying things on sale; it doesn't make sense to me but it does to most people. I'm very curious about the psychology behind this.
- andrewcooke 14y agoi am pretty sure you'll find it described in "thinking, fast and slow" by daniel kahneman - http://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374275637 http://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/... (i imagine that the "fast heuristic" is to make immediate, local comparisons, which discounts favour; recognising persistently low prices means more reflection and long-term memory; people use fast heuristics rather than slow logic most of the time). it's a very good book. i just gave a friend a copy today (if anyone in santiago is looking for a spanish language copy it's sold out in all the shops but bazuca.cl still have it in stock - i guess no-one thinks of buying books there!)