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Boost Promotion Effectiveness With Behavioral Insights

Ever since Daniel Kahneman won the Nobel prize in economics in 2002 (shared with Vernon L. Smith), Behavioral Economics has entered the mainstream. More and more retailers have come to recognize that consumers are not simply utility-maximizers, instead making seemingly irrational decisions based on social, emotional, and cognitive cues. Today, you can see this shift reflected in advertising, store layout and displays, product packaging, pricing, etc.

This also has significant implications for promotional offers. From the way an offer is framed to the anchor price to the offer image and text, consumers automatically evaluate numerous aspects of an offer — far beyond just price — when making a purchase decision.

At Eversight, our customers have tested thousands of different offers, uncovering numerous insights regarding which promotional tactics appeal to consumer and drive superior ROI. Check out this infographic to learn about 9 behavioral insights that can help you create more effective in-store promotions.