The consumer psychology behind holiday marketing
The holiday season offers an opportunity for marketers to help consumers find and buy gifts for their friends and family that will hopefully bring feelings of joy and love.
Discover the science behind what makes consumers click "buy now" with actionable insights on urgency marketing, FOMO psychology, and proven tactics that top brands use to boost conversions.
At one point, the average American household spent 2% of their annual income on gifts, according to research cited by consumer psychologist Shilpa Madan. She pointed out just how significant that number was in the grand scheme of spending after explaining that it was actually old data from 2013.
On Thursday, November 21, H&M held a grand opening event for its new location in Detroit on Woodward Avenue. The event drew hundreds of people. Of course some of the draw came from an excited city gathering around a brand they love — but we also noticed key psychology tactics in H&M’s marketing strategy that made the day such a success for the company.
In 1983, a sensation occurred in the form of the Cabbage Patch Kids. The public’s desire for what was marketed as the ugliest doll in the world became so dire that literal riots broke out around the holiday season in retail stores across the country.
The innate desire to win is a trait that comes from our earliest ancestors. Competition, like scarcity, was once a mechanism used by humans in order to survive.