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Online retailers use psychological tricks and tools to get consumers to make purchases.
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Experts told Insiders that many retailers often tap into shoppers’ fear of missing out, or “FOMO.”
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Retailers have been deploying these tactics for over a decade. But we’re shopping even more online.
Online retailers use psychological tricks and marketing tools to get consumers to make purchases. And as online sales have grown during the pandemicretailers have learned to be more persuasive.
Companies are relying more on first-party data to build personal relationships with customers and convince them to make purchases. This data will only grow in importance as social media ads become more costly, and Internet cookieswhich help track users on different sites, are phased out.
Experts who spoke to Insider said many of the business strategies deployed by retailers tap into shoppers’ fear of missing out, or FOMO, on the latest and most popular products. Offering incentives to add more items to online carts like free shipping is another example of the psychological tricks a retailer can play.
Nike and Lululemon are two companies leading the pack
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