Gaurav
14.1K posts
@gtaank
DCEite, Entrepreneur, Hustler, Runner! Building @eulerMotors Prev @rightrelevance @cronycle worked on Data science & ML, SAAS, Robotics, Solar, UAVs
Yesterday I went to IKEA Bengaluru and spent over Rs. 80,000!🤯 I just wanted 5 items but came out with 78!🤡 Here are 3 tricks IKEA uses to make you spend more.📈 💡1. The Gruen Effect: The layout of IKEA's experience stores is no less than a maze. Even if you want just one item, you'll have to walk past their entire inventory. Normally in any store, a customer only sees 30% of its inventory. Not in IKEA. You end up forgetting what you came here for and that leads to impulse purchases.😵💫 💡2. Decoy Effect: I literally saw this yesterday with the prices of IKEA frames. The large frame was Rs. 900, the medium one at Rs. 700 and the smaller one at Rs. 400. This made us think the Rs. 900 frame is the best value for money.💯 This neat tricks generates over 14.3% more gross profit for IKEA every year.🚀 💡3. Secret Psychology of IKEA food: IKEA makes just 5% from it's food offerings. Over 30% people come to IKEA just for its food. But, why sell food as a furniture company? Because having food creates a sense of happiness, thereby elevating your mood. The mood of a customer largely affects how much they'll spend. 👉 In a 2012 survey report, customers who were well fed spent 2x more on home furniture and clothes. Have you been to an IKEA store yet?👀 #ikea #business
Yesterday I went to IKEA Bengaluru and spent over Rs. 80,000!🤯 I just wanted 5 items but came out with 78!🤡 Here are 3 tricks IKEA uses to make you spend more.📈 💡1. The Gruen Effect: The layout of IKEA's experience stores is no less than a maze. Even if you want just one item, you'll have to walk past their entire inventory. Normally in any store, a customer only sees 30% of its inventory. Not in IKEA. You end up forgetting what you came here for and that leads to impulse purchases.😵💫 💡2. Decoy Effect: I literally saw this yesterday with the prices of IKEA frames. The large frame was Rs. 900, the medium one at Rs. 700 and the smaller one at Rs. 400. This made us think the Rs. 900 frame is the best value for money.💯 This neat tricks generates over 14.3% more gross profit for IKEA every year.🚀 💡3. Secret Psychology of IKEA food: IKEA makes just 5% from it's food offerings. Over 30% people come to IKEA just for its food. But, why sell food as a furniture company? Because having food creates a sense of happiness, thereby elevating your mood. The mood of a customer largely affects how much they'll spend. 👉 In a 2012 survey report, customers who were well fed spent 2x more on home furniture and clothes. Have you been to an IKEA store yet?👀 #ikea #business
If there is one article you have to read today, it's this one, by @crackedscience on the breakdown of the "popularity" of Hubermanlab. Summary: Everything is not alright & Everything is not what it seems. Salient points: "...Huberman is not a medical doctor" "...respectable neuroscientist starts sanctioning mountains of dietary supplements" "...[his lack of] ability to evaluate the literature on these poorly regulated concoctions" ..."Right from the start, The Huberman Lab was sponsored by companies offering questionable products" ..."Andrew Huberman regularly recommend the herb ashwagandha for its “profound effect on anxiety,” an herb that has a suspected potential for worsening autoimmune conditions and causing miscarriages, has been poorly studied" Huberman is, intentionally or unintentionally, a pseudoscience apologist, with lots of recommendations coming from "Ayurvedic" pseudoscience principles. So what is Huberman really good at? "Andrew Huberman is indeed really good at explaining what happens to neurotransmitters in the brain and to hormones inside our body [and thats it]. Read more: mcgill.ca/oss/article/cr…
