The Use of Psychology to Influence e-commerce Product Design
Many psychological tactics and cognitive biases are used in the design of e-commerce websites and mobile app designs, which will significantly help to enhance business. We must keep these psychology methods in mind when designing an e-commerce product; let’s go through them in depth.
The Anchoring Effect
The anchoring effect is a cognitive bias that reflects people’s inclination to place too much weight on the first piece of information they are given.
We interpret newer information from the reference point of our anchor while making plans or creating estimates, rather than seeing it objectively.
For example, a user might want to buy perfume as a gift for a friend, and while searching, he comes across these two items. He is tempted to take the second option because he believes he is getting a fantastic deal because the goods normally cost $100 but he is getting it for $69.
The Decoy Effect
When consumers are presented with a third alternative that is asymmetrically dominant, the decoy effect occurs, in which they will tend to have a specific change in preferences between two options.
The decoy effect might lead to us spending and consuming more than we require. When a decoy alternative is available, we are more likely to make selections based on what feels like the most favorable option rather than what will best meet our needs.
For example, Jar 1 includes 50 quantity of gems for $2, jar 2 includes 250 quantity of gems for $8, and jar 3 includes 750 quantity of gems for $10.
Logic would lead you to believe they're missing a trick if they don't offer something in the 50–250 gem range. But no, there's a very large difference between 50 and 250.
If you require more than 50 gems, the 250 gems jar seems excessive when you can get a massive 750 jewels for just $2 extra.
The 750 gem package is asymmetrically dominated by the 250 gem package in this scenario. As a result, the decoy effect makes it more likely that the higher-priced bundle will be chosen.
The Illusion of Scarcity
The illusion of scarcity is a phenomena in which a product or service becomes more appealing when its supply is limited.
Sellers can boost demand by creating the illusion of scarcity. This fictitious scarcity motivates users to buy sooner and possibly in larger quantities than usual.
Only 2 remaining in stock before ‘ add to cart ’ in the first card signifies that time is running out to purchase the product. Because there is a limited number of them. We must be careful to deliver this information in a way that is factual, clear, and convincing.
The Loss Aversion
Loss aversion is an instinct that requires a person to compare, reason and make a decision. There’s also the proclivity to favor avoiding losses over gaining similar rewards.
It’s critical to choose the correct trial time and constraints to play into the notion of scarcity and urgency in order to stimulate maximum conversion.
Offering an excessively extended free trial time may cause users to put off engaging with the service and, as a result, fail to convert
Conclusion
Our conscious mind will always play a significant part in making decisions and influencing our judgments. The same concept can be applied to e-commerce to boost sales.
