Desires to touch a product is important for increasing consumers' purchase intention. Research shows that the mere act of touching an item increases its subjective worth and increases people's willingness to pay for the item.
This also to product packaging. It's important that your packaging is attractive so that consumers want to pick it up.
But how does that work?
Psychological research shows that holding a product creates a sense of ownership. When we touch something, we are more likely to think that we own it (Peck & Shu. 2009). And if we think we own a product, we are more inclined to keep it - this is called the Endowment Effect.
Because we are inclined to keep what we own, we also increase our willingness to pay for it. We perceived things we own to be worth more. For consumers, the sense of ownership leads to higher purchase intentions, according to Lawrence Williams (assistant professor of marketing, Leeds Business school & University of Colorado) and Josh Ackerman (marketing professor, Sloan school of management MIT).
The Endowment Effect has led to a trend in tech stores - previously, products were locked up behind glass; now, the entire range of products is open for consumers to feel and experience. We see that at shops like Apple, MediaMarkt and Coolblue.
Advice: Make sure that your packaging attracts consumers to pick it up. This way you create the Endowment Effect in consumers, leading to higher purchase intentions.
Is your packaging attractive consumers to pick it up? We can help you by studying it in the brain. Please contact us for more information.
