Strategies
Sending the shoes back? How about this lovely gift card? Cross-selling can help retailers avoid lost revenue from returns
Once we’ve chosen to buy something, we tend to consider that money as already spent or gone, also called “loss booking.” If we decide we want to return the item, retailers can take advantage of that tendency by giving customers enticing options to spend their refund on something else, instead of getting their money back.
Strategies
Renting out your place? Human connection key to a successful holiday rental
Warmth, friendliness and a sense of belonging, or the “homely” side of the experience, strengthen guest loyalty, making them more likely to return to the same host. However, these feelings alone didn’t necessarily make guests more likely to recommend the property to others.
BizNews
Wine sellers, pay attention: Women more likely to choose wine from female winemakers
Messages like “proudly made by a woman winemaker” increased women’s intentions of purchasing wines, particularly when the label’s artwork reinforced the point with feminine gender cues such as flowers. Women were also willing to pay higher prices for those wines.
Strategies
Digital targeting creeps out customers
When digital personalization crosses perceived boundaries, it triggers a powerful emotional response, which he calls “creepiness.” That response can backfire on digital marketers by materially reducing consumers’ willingness to buy.
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