Blog
Matthew Taylor
There is plenty of evidence for the irrationality of shoppers. At the most fundamental level we exaggerate the pleasure we will get from the new things we buy. The shine wears off pretty quickly. We say we like choice but actually find it difficult to cope with it beyond a relatively modest level. And we get taken in by marketing as is revealed by research published this morning. Apparently, we systematically overstate the cheapness of some stores (e.g. Argos, Zara) while overstating the cost of others (Sainsbury’s, John Lewis, Primark).