Yesterday, my wife and I visited a local science museum that is featuring an exhibit on the brain that I very much wanted to check out. While the exhibit was phenomenal, I came away with a bitter taste in my mouth after visiting the museum's gift shop. When we finally made it to the front of the line to pay for our items, the cashier informed us that they'd run out of plastic bags, but that we had the option to purchase one of their tote bags for $3. Interestingly enough, this happened to be the third time in as many months where a merchant I'm buying from has tried to coax me into purchasing one of their tote bags. As someone who earned degrees in psychology and marketing, I can tell you that this is likely a clever sales ploy retailers are trying to pull just to earn more money. Think about it: If on a given day, say, 300 people opt to buy a $3 bag, that's $900 bucks the store would not have if they used regular plastic bags! And most people -- especiall...

Declining foot traffic and slumping profit margins are forcing several brick-and-mortar retailers to shift into survival mode. Consumers are doing more of their shopping online, lured by the convenience and great deals offered by Amazon and other competitors. As a result, the stores are tweaking their strategies, hoping to rake in big sales in the process. For one, Wal-Mart has been forking over cash to increase sales online, buying discounter Jet.com and building out its distribution system. It's also invested in remodeling hundreds of stores, reducing inventories, and pushing down prices. Target will forego $1 billion in profits by lowering prices and pushing digital sales with lower margins. It will also spend billions to renovate roughly 600 stores and open 100 smaller ones over the next few years. As part of its ongoing effort to get smaller to combat losses, Sears will be closing another 100 Sears and Kmart stores in 2017. Having already sold off its Craftsman tools b...

When I went to the mall recently, I couldn't help but notice one thing as I ambled past several stores: The scents wafting from each of them. In particular, you would think Hollister and Abercrombie and Fitch sell perfume rather than clothing; my olfactory nerves kick into overdrive anytime I'm in those stores checking out shirts and jeans. Retailers are going to great lengths to get consumers' attention. Think about all the stimuli as sailing our senses at a mall: myriad advertisements, people walking to and fro, the smell of mouth-watering pizza coming from the food court -- the list goes on. Thus, it comes as no surprise that companies are trying unorthodox strategies for getting into our heads -- and pockets -- not the least of which is pumping pleasant smells into their stores. It all factors into their efforts to create a welcoming atmosphere -- which may encompass everything from dim lighting to clutter-free aisles. Studies have found that consumers are twi...

Coupons. Discounts. Sales. We all love them. Anything that allows us to keep more money in our pocket can only be a good thing, right? Any signage at stores that says "buy one, get one free" or "50% off" can be so disarming. It's as if it gets our "spend money" sensors tingling. Ironically, coupons and deals compel us to spend money we would otherwise not shell out. Most consumers don't want to feel like they're missing out on a great bargain, so they're willing to purchase something they might not even need or be interested in. It's all psychological: we  care more about saving money than the actual product we're getting. "If I don't jump on this deal now, the price might go back up." Or so our thinking goes. Is it any wonder retailers have been so successful at driving shoppers to the checkout lines by imposing time windows? ("Hurry! This deal ends soon.") I work in and studied marketing and psy...

A recent study reveals that many people spend an average of six hours at the mall with each visit. We've all been there: We intend to make a quick purchase at the mall, whether it be a t-shirt or pair of shoes, only to wind up spending several hours there. Not surprisingly, the higher the number of people accompanying us, the more challenging it becomes to keep the visit under an hour. But six hours seems like a boatload of time. Can you imagine how many hours of exercise or reading you could put in if you stayed home instead? I would assume that many mall-goers purposely while the day away at the mall (especially if there's inclement weather or there are children in tow), while others simply lose track of the time while browsing countless stores. The problem with the latter is that it often translates into people buying far more things and spending far more money than they should. The solution? Consumers should aim to leave the mall as soon as they've snagged what ...

Shoppers spent $10.4 billion at stores on Friday. While that may seem like a large number in and of itself, it's a rather tepid showing when you compare it to sales generated a year earlier. In 2014, consumers forked over a more impressive $11.6 billion. Moreover, store sales on Thanksgiving this year fell from just over $2 billion to $1.8 billion. So what's to blame for the drops, exactly? As you can probably predict, consumer behaviorists point to online sales, which jumped 14 percent on Black Friday from 2014. All told, consumers who took to the web for their purchases spent $2.72 billion. Not too shabby, right? And we haven't even gotten to Cyber Monday (Nov. 30), which is hands down the busiest e-commerce day of the year. Perhaps this suggests that people are getting tired of braving the crowds (and the elements) to snag a good sale in person. Reports of people camping out in stores and trampling over others to grab everything from TVs to denim jeans has like...

A bevy of retailers have gotten a lot of flak in recent years for either opting to remain open all day or choosing to start Black Friday early by opening late Thanksgiving night. While some consumers embrace the opportunity to be among the first to snag incredible bargains at these stores, others think the retailers should keep their doors closed on the holiday. That especially includes affected employees who'd prefer to spend that time with their families. Some groups are so fiercely opposed to business as usual on Thanksgiving that they've organized boycotts throughout the country. Finally, many of these stores have listened and are planning to remain closed on Thanksgiving. Among them are: - Costco - Pier 1 - Nordstrom - Crate & Barrel - T.J. Maxx - Marshalls - Home Depot - Barnes & Noble - Sam's Club - Staples - Ikea - Lowe's It's about time these companies recognized that there's more to life than work. Thanksgiving is a day to ...