The power of SOCIAL It is risky to rely on intuition. It is often not supported by empirical evidence. It is heartening however when it does. Recent research at Stanford University sort the quantify social impacts on purchase behaviour and more specifically to determine whether watching another person make a purchase has a significant on […]

The power of SOCIAL It is risky to rely on intuition. It is often not supported by empirical evidence. It is heartening however when it does. Recent research at Stanford University sort the quantify social impacts on purchase behaviour and more specifically to determine whether watching another person make a purchase has a significant on an individual’s purchase behaviour. This highly controlled research gave rise to a number of interesting findings, including the following: – An individual’s purchase behaviour is significantly impacted by watching another individual make a purchase. The propensity of the second individual to purchase increases significantly – An individual’s spending level does not impact significantly on the spending level of the individual watching the purchase – The choice made by a second individual is effected by the choices made by the first individual, but the extent of the effect varies by product category – Individuals not making…