Customers Are Willing to Pay More When They’re Warm
Shoppers on a popular web portal were about 46% more likely to go to a “To Purchase” page when the daily temperature averaged 25 degrees Celsius (77 Fahrenheit) than when it averaged 20 degrees (68F), say Yonat Zwebner of The Hebrew University of Jerusalem, Leonard Lee of Columbia, and Jacob Goldenberg of the Interdisciplinary Center in Israel. The researchers also found that people in a warm room were willing to pay more than those in a cool room for 9 of 11 consumer items shown to them, and other participants were willing to pay 36% more for items when holding warm, versus cool, therapeutic pads. Exposure to physical warmth activates the concept of emotional warmth, eliciting positive reactions and increasing product valuation, the researchers say.
SOURCE: The Temperature Premium: Warm Temperatures Increase Product Valuation