Little Moments of Luxury: How The Subconscious Seeks Out Satisfaction in Economically Distressed Times
Conventional wisdom identifies "luxury" products and services as high-ticket items beyond the reach of most of the population, bought infrequently and often only after significant pre-purchase competitive comparison and consideration. For the most affluent, spur-of-the-moment purchases can also fall into this category as well, unaffected by price points that would deter other consumers.
We know from neurological research that the brain processes the act of purchasing – that is to say, parting with a valued resource like cash in exchange for goods or services – in the same region that it processes the experience of pain. It does in fact, from a brain science perspective, ‘hurt’ to hand over money in a transaction. At NeuroFocus, we have done a good deal of research into pricing, and the subconscious dynamics that we all undergo during the purchase decision process.