Online shoppers are unable to enjoy the euphoria of buying a bargain because the feeling dissipates, if an item is not obtained immediately, psychologists have said.
High street retailers, therefore, may have had the secret to combating internet competition all along – instant gratification – according to a study from Columbia Business School in New York.
This might spell trouble for online retailers like Amazon that offer discounted items and then force consumers to wait. Even if the wait is relatively short, as little as 15 minutes, the consumer’s enjoyment of the product decreases dramatically.
The findings, in the Journal of Consumer Research, belie conventional wisdom that discounts always cause consumers to enjoy products more.
Brick-and-mortar businesses can add value to their bottom lines by offering in-store promotions on the products they know people want to experience immediately. This is a key competitive advantage that might secure their long-term survival in an expanding online market place.
From the Daily Telegraph, Thursday 28 November 2013.