Juli 2017, 16.00 Uhr, CHTC - TC Traar Tel.: 0174-6430008106 Jonathan Gabelin107 Louis Pollert108 Ole Krings109 Tim Nolte110 Fritz Ernenputsch111 Max Dickmann112 Timon Gollasch113 Kilian Klix114 Corbininan Stockhausen115 Lenjo Tappert116 Constantin Kaufmann117 Jasper Pazzaglia118 Sidney Panjer119 Donatus Mutscheller120 Bruno Comes121 Jakob Ritterbach Spieltermine: Mittwoch, 10.
“Don’t know what I want / But I know how to get it.” That’s what Johnny Rotten of the Sex Pistols “sang” (to use the term loosely) in the angry, seminal song for the ages “Anarchy in the U.
But today, a vast majority of Americans make purchases with credit or debit cards. And more broadly, does it matter how you pay for your purchases?
(Well, maybe not drugs, but that’s a different blog post for another day.) The benefits of using a credit card are obvious. Well, it turns out that it does matter, and in rather interesting and important ways.
Since paying in cash feels more painful than paying by credit or debit cards, paying in cash can reduce the purchase of unhealthy food items.” These studies were done before contactless payments using smartphones like Apple Pay became popular.
Today, it is easy to imagine that because these methods make spending money even more painless, they are encouraging shoppers to buy impulsively, over-spend, and purchase unhealthy products even more.
78% of those surveyed, in contrast, preferred to pay for things with a credit or debit card. The shopper has minimal liability, and often no liability at all.
Just a decade or two ago, most people used cash for most things. Are there any downsides to using credit cards instead of cash?
But this pain is not the same for cash as it is for credit cards.In a 2008 paper in the “the more transparent the payment outflow, the greater the aversion to spending or higher the ‘pain of paying’ …leading to less transparent payment modes such as credit cards and gift cards (vs.cash) being more easily spent or treated as play or ‘monopoly money.’” Raghubir and Srivastava argued that using credit cards dulls the ‘pain of paying’ for two important reasons: (1) there is a separation in time between when the credit card is used to buy something and when the bill has to be paid; and (2) using a credit card allows different purchases to be mixed together.In one study, the authors found that participants were willing to spend 5 to throw a Thanksgiving party when using a credit card to buy the food, but only 5 when using cash. Another consumer psychology study analyzed the food buying behavior of a thousand households over 6 months.The researcher team found that the shopping baskets of those who paid with credit cards had a larger proportion of impulsive and unhealthy food items like ice cream, candies, cookies, and potato chips. This is what the authors had to say: “Our conceptualization is based on the premise that when consumers encounter vice products - such as cookies, cakes and pies – the emotive imagery and associated desire trigger impulsive purchase decisions.Recent research shows that payment method also affects the shopper’s relationship with the purchased product.