Washington D.C., Mar. 15 (ANI): A new study has revealed that shoppers may have a tendency to reject thriftiness when your purchase is a matter of the heart.
People are reluctant to seek cost-saving options when buying what they consider sacred such as engagement rings, cremation urns or even desserts for a birthday party for or to commemorate loved ones.
The research conducted by the University of Colorado Boulder is the first to examine the implications of this phenomenon.
Even when they identify a less expensive alternative to be equally desirable, people choose the more expensive of two items. They also avoid searching for lower prices and negotiating better prices when the goods they’re buying are symbolic of love.
Lead author Peter McGraw said that people’s buying behavior changes when they’re making purchases out of love because it feels wrong to engage in cost-saving measures.
The findings highlight how wedding, funeral and other industries can exploit consumers, said McGraw.
McGraw added that it is important to be aware of this tendency not to seek cost savings because, over a lifetime, consumers make many purchases that are symbolic of love whether for weddings, funerals, birthdays, anniversaries and even potlucks.
The research is published in the journal Judgment and Decision Making. (ANI)