When reviewers consider prices while rating products, there’s a tendency to downgrade the highest-quality yet pricier items
By Christopher Mims of The WSJ. Excerpts:
"People are harsher critics of more expensive items."
"the high price tag alone drags down the rating."
"The less we pay for an item, the more generous our assessment of it tends to be."
"Ying Zeng . . . assistant professor of marketing at the Leeds School of Business at University of Colorado, Boulder . . . says when we read reviews online, we succumb to what psychologists call “shallow thinking”—that is, we aren’t considering the biases of those who write online reviews."
Ben Donovan's [of Marketplace Pulse] "research suggests that Amazon’s algorithm bumps up cheaper items that are selling in higher volumes, as opposed to more expensive ones that sell more slowly."
"Our penchant for shopping on our phones is accelerating our impulse buying."
"Limited-time discounts and livestreaming sales also push us toward impulse purchases, says Zeng. Tactics like these trigger “System 1” thinking, she adds, the fast, emotional, intuitive thinking that usually handles everyday tasks, first described by Nobel Prize-winning psychologist Daniel Kahneman."
"Slow down, take your time. Then the more deliberative System 2 thinking will kick in, where we consider more variables, including our own biases and those of others."
"Groceries and other items are purchased more automatically, while shoppers use AI chatbots and other new tools to go deeper when researching other, bigger-ticket items," says Adobe’s director of digital insights, Vivek Pandya.
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