It's not always easy to get your product into your customers' hands.
Sometimes you have something very valuable (or else relatively valuable but easy to steal) that you feel you have to keep locked away; sometimes it's not practical to display everything; and of course sometimes you're selling on-line.
Does that really matter? Does it make a difference if customers can touch a product or not? If they can see it they can decide if they want to ask to handle it or get it on a trial basis, right?
Very recently researchers looked into whether touching a product made a difference to what people would pay for it and the results are compelling.
Research lead by James Wolf from Ohio State University conducted a study with 144 people. They were asked to bid on a coffee mug in an auction after inspecting it for a specified amount of time.
The people in closed auctions then wrote down how much they were willing to pay for the mug. For the open auctions bidding was always extended by 15 seconds after a bid (to prevent tactical last-minute 'sniping').
Keep reading to find out what difference the amount of time participants touched the mug made to what they paid.... »
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