What Happens if You Return Your Gifts

Americans return approx. 10% of their Christmas gifts. Overall, people don’t just get their money back. They use the refund to buy other things (usually from the same shop – I assume). Interestingly, these new purchases are, on average, 60$ above the full amount they received for the returned item. In short, if someone receives a gift that costs 100$ and returns it, that same person will buy another product worth 160$ (100$ refund plus 60$ from their own money). I’m wondering how does this affect (re)purchasing decisions and how does it affect the perception of the social act of gift giving and receiving. In other words, does it (still) feel like receiving a gift? The two questions are, in f

A Story about Gifts

About a year ago, I received a Fitbit as a gift from my wife. This wasn’t a surprise since, when she asked what I’d like for my name-day (Saint Nicholas – Dec. 6), I mentioned that I’m considering getting a Fitbit, but I wasn’t comfortable paying $100+ on something to wear on my wrist. For those who don’t know me personally, I’m quite stingy when it comes to buying objects for myself. My wife bought me a Fitbit. I’ve been using it for over a year now and I’m very happy with it. Before my wife’s birthday (roughly 7 months after I received the Fitbit) I asked her if she’d like one as well. She was reluctant on the same grounds I was reluctant months before. Nonetheless, I bought her a Fitbit

Toothpaste: The Ideal Feedback Mechanism

Toothpaste: we all use it (hopefully) at least twice a day. Toothpaste is big business. The global toothpaste market in 2015 was estimated at US$12.6 Billion. That’s similar to GDPs of countries such as Albania, Mozambique and Burkina Faso. Promoting toothpaste is big business as well. Annually P&G spends $192 million on advertising for Crest alone in the USA. Dentists and other dental professionals promote and encourage people to use toothpaste (sometimes a particular brand and not entirely for free). Yet, the not so hidden secret about toothpaste is that, in itself, it does very little (close to nothing) for your teeth. Toothpaste, in itself, has no clinical (real) added value to tooth car

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