We are delighted to be contributing again to the tremendous output of eZonomics, the behavioural economics-based website run by ING after a few years’ gap.
The first article by Phil looked at the implications for consumers of the near-pemanent sales now seen on high streets across Europe. It highlights the benefits that highly rational shoppers can gain by buying early for Christmas, waiting for sales, and storing wanted items in wishlists on e-commerce platforms.
But it also flagged up dangers such as shoppers falling victim to retailers ‘framing’ their products against theoretical list prices, and low levels of financial literacy enabling retailers to confuse people with complicated offers and multi-buys. The article is here.