In her book, “Decoding the New Consumer Mind,” Dr. Kit Yarrow explains that there are increased levels of narcissistic thought and behavior among consumers in modern society.
Savvy retailers that know this can use this knowledge to their advantage in order to increase sales in their stores by providing exclusive offers that make their customers feel special and appreciated.
We All Have Narcissistic Qualities
“Narcissism is a personality style with powerful emotional components that drive interactions and purchasing needs,” writes Dr. Yarrow in her book. “Most people are not narcissists in a clinical sense of the word, but everyone has some narcissistic qualities. That is, we all exhibit some degree of superficiality, self-focus, a sense of invisibility, emphasis on the individual rather than the group, and high expectations of individual specialness.”
According to Dr. Yarrow, “Narcissism activates particular consumer needs to feel special and appreciated. These are obvious needs that are familiar to marketers. But more subtle factors come into play when we operate out of narcissism: most notably anger and competitiveness. Marketers need to understand the real roots of narcissism both because it’s on the rise and because it activates some of our deepest, darkest emotions. Understanding narcissism means better understanding what consumers want and need.”
Retail and the Narcissistic Consumer
Dr. Yarrow points out that given the fact that narcissism exists in all of us to some extent, marketers would be wise to harness the allure of specialness, exclusivity, secrets, and social rankings.
Examples given in the book include the “secret” menu at the fast-food restaurant In-N-Out Burger, early access to sales for department store credit card holders, and exclusive coveted offerings for Facebook fans, special consumers, and Twitter followers.
Dr. Yarrow also suggests that by intentionally leaving sale price items unmarked, a retail store could increase sales for some high-priced items.
This “secret sale” that associates let customers know about can make customers think that they are getting special treatment.
In my opinion, this gives the sales associate a chance to create trust with the customer that could also increase sales in the future. There is also an opportunity for the retail store to use mobile technology to deliver value to the customer if the information is delivered via the store’s mobile app.
As Dr. Yarrow points out, secrets are exciting and create a bond between the shopper and the store. She also points out that this tactic works for all consumers, not just the more narcissistic shopper.
Knowing what motivates consumers to take action can help businesses make better decisions and create situations that increase sales.
As this post explains, the rise of narcissism in society has made it more important for brands and retailers to create experiences that make the customer feel like he or she is getting something that other customers are not aware of.
This can help the business reach short-term sales goals. It can also lead to future sales by strengthening the bond between the customer and the business.
Photo credit: thekirbster on Flickr.