Nuggets unlocks the power of behavioural research

+47%

Willingness to pay

The use of stories can greatly affect our  value perception of a product

Lundqvist et. al (2013). The impact of storytelling on the consumer brand experience: The case of a firm-originated story. Journal of Brand Management.

+142%

Sales conversion

After reframing filter coffee choice architecture to avoid risk aversion

Sales data kindly provided by Taylor St Barista. Barsky et al (1997). Pref. parameters and behavioral heterogeneity. Quarterly Journal of Economics.

+36%

Product satisfaction

Highlighting your ethics increases perceived quality of your products

Lundqvist et. al (2013). The impact of storytelling on the consumer brand experience: The case of a firm-originated story. Journal of Brand Management.

+47%

Willingness to pay

Lundqvist et. al (2013). The impact of storytelling on the consumer brand experience: The case of a firm-originated story. Journal of Brand Management.

The use of stories greatly affects product value perception

20 people were split into two groups. Half were asked to read the story of an unknown cosmetics brand & product and shown a photo of the store. Half were not given a story or photo.

All were then asked for an estimation of the product’s cost range. Those in the Story Group saw the item as of higher value and were twice as willing to pay for it.

+142%

Sales conversion

Sales data kindly provided by TSB Coffee.
Barsky et al (1997). Preference parameters and behavioral heterogeneity. Qrtrly Jrnl of Economics.

After redesigning product range to reduce risk aversion

Specialty UK coffee company Taylor St Barista had been selling high quality filter coffee for 2-3 years, rotating the beans used every 2 weeks. Sales were stagnant at 2%.

Following research with customers, they found that the constant rotation was triggering risk aversion for new brew flavours.

They redesigned the choice architecture of the product, splitting it into three constant flavour profiles, within each there would be rotation. Sales more than doubled.

+36%

Product Satisfaction

Chernev, Alexander and Sean Blair (2015), “Doing Well by Doing Good: The Benevolent Halo of Social Goodwill” Journal of Consumer Research

Highlighting ethics increases perceived product quality

Participants were shown two unlabelled cups of wine. One had a tag stating that the vineyard donates a proportion of its profits to charity. The other had no such info.

Participants were then asked to taste both wines and rate the flavour out of 7.

The results showed that participants rated the ethical wine as much more tasty than the non-ethical, despite the fact that both wines were poured from the same bottle.