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How Can You Make Money With Retail Therapy?

It’s been a rough week at the office and nothing seems to be helping — not even that relaxing glass of wine after dinner or the tub of ice cream.

So what’s a good, capitalist American girl to do about her middle-of-the-week blues? Why, go shopping, of course!

Sure, it’s a bit of a stereotype but apparently a good dose of shopping really can go a long way to making people feel better. They call it “retail therapy.”

That’s according to an article in the June issue of Psychology and Marketing called “Retail therapy: A strategic effort to improve mood.” The article was discussed on a recent blog post by Eric Barker, author of the well-known blog Barking Up The Wrong Tree and columnist for Wired Magazine.

The research says that “retail therapy” means trying to cheer yourself up by spending money on “self-treats.” Impulsive buying or mindless shopping done specifically to make yourself feel better usually doesn’t make you feel guilty about it. Rather, it can have a lasting positive impact on mood.

This is good news for marketers. Experts agree that it’s important for retailers to capitalize on this form of self-medication.

“Retail therapy does, in fact, work,” one expert said. “A smart retailer might want to think about a marketing campaign offering their buyers a little retail therapy coupon or having a retail therapy sale!”

Source: Bakadesuyo, June 2011

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Editor-at-Large

Randy Misener, Editor-at-Large
Randy Misener is the Industry Executive responsible for Enterprise Retail Management solutions at Avanade. Majority owned by Accenture, Avanade was founded in 2000 by Accenture LLP and Microsoft Corporation and has approximately 15,000 professionals in more than 20 countries.