Zara has put the behavioural science principle of ‘loss aversion’ into play by using the ‘fast fashion’ strategy
Jan 16, 2022
We fear losses twice as much as we covet a similar gain. Loss aversion is built into our DNA through the evolutionary process. When our forefathers lived in the jungle, survival, not prosperity, was their main focus. That instinct continues to drive us today. Result: in a Zara store, a buying decision is unlikely to be postponed.
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