Americans will be spending an estimated $19 billion for Valentine’s Day this year. Not joining the hordes of consumers during the Hallmark holiday, unsurprisingly are singles.
Rather than indulging in retail therapy to ease the sting of loneliness during the love fest, a consumer psychologist expert says they spend less. Lisa Cavanaugh’s research published in the Journal of Marketing Research found individuals spend less money, choose lower-end products and will eat lower-calorie food when marketing reminds them of relationships they don’t have.
Using a loving couple, running in slow motion on a beach to sell teeth whitening strips, won’t get any business from single consumers. She says, “By reminding people of relationships they don’t have, marketers inadvertently make consumers feel undeserving — less worthy of treating and rewarding themselves.”
If you’re single, do you think advertising affects how much you spend on yourself? Will Valentine’s Day impact how much you treat yourself?
Guest:
Lisa Cavanaugh, Consumer Psychologist at USC Marshall School of Business, author of study “Because I (Don't) Deserve It: How Relationship Reminders and Deservingness Influence Consumer Indulgence”