DES GB2015 Englisch

SHOPPING This phenomenon is known as the “endowment effect”. Holding something inspires a sense of ownership, which in turn leads one to place a higher value on it. His research into this pattern of behaviour was one of the decisive factors behind the awarding of the 2002 Nobel Prize for Economics to Daniel Kahneman – one of the few psycholo- gists to win this accolade. One of his core findings has since become a tenet of sales and marketing: when we touch something, we subconsciously awaken a desire for owner- ship, and by extension to purchase, as one smart psycho- logical experiment in a supermarket revealed. A sign was erected at a fruit stand exhorting shop- pers to “Feel the freshness for yourself”. More customers did indeed touch the oranges on sale, and their spontane- ous purchase rate rose by an impressive 40%. Studies have found that the need for touch (NFT) var- ies from person to person. Customers with a high NFT not only need touch in order to judge quality, but also enjoy the sensation itself and are therefore naturally more disposed to make impulse purchases. However, the highly informative nature of touch is also motivating for people with a low NFT. The basis for this is the experience that is ingrained at an early age and is always lurking in the subconscious: if it feels good, it is good! For example, participants in a study evaluated the same water as higher quality when it was served in a sturdy PET glass rather than a flexible, thin-sided plastic one. In the same way, the convincing effect of touch increases willingness to spend. A tangible impact The associations that are subconsciously made when feel- ing an object have been shown in many studies. In one such example, test participants received fake letters ask- ing for donations to protect forests, which enclosed differ- ent items. One of the letters was adorned with a feather (positive tactile experience); another with a piece of bark (neutral stimulus). The tactile experiences perceived as pleasant to the touch and appropriate had a positive im- pact on recipients; in other words, made them more likely to donate. After conducting further tests, the researchers concluded that tactile objects that trigger positive or neu- tral sensory feedback are ascribed a higher valuation, be- cause they psychologically create a sense of ownership in advance and because they positively reinforce the emo- tional reaction. Numerous scientific experiments have since under- scored how impressions gained through touch implicitly influence our overall perception. For example, hard chairs also lend themselves to unyielding negotiations. Advertis- ing materials attached to a heavy clipboard quite literally carry more weight than those of their competitors on a flimsy one. “Nothing convinces us more than the possibility to touch.” Holding something inspires a sense of ownership, which in turn leads one to place a higher value on it. 24 Deutsche EuroShop AG Annual Report 2015

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