By: Keith Joyce
VP of Operations
BowenFurniture.com
kjoyce@bowenfurniture.com
I had the opportunity a few days ago to read a very interesting article about consumers’ feelings when purchasing various items. It was an eye-opener to me; I had never looked at making a purchase from this viewpoint. I think you’ll find it interesting as well.
According to research, we (perhaps subconsciously) assign a risk-reward value to everything we buy. Examples of low-risk, low-reward purchases would be groceries and gasoline. They’re necessities of life, but we don’t get a great deal of pleasure out of buying them. Woo-hoo! A tank of gas! Two pounds of ground beef! Whoopee! Wrong. We need them, but it just isn’t much fun to shop for them.
Low-risk, high-reward purchases might be clothing or jewelry. Most of us enjoy buying new clothes and jewelry; we see what we’re getting and it’s going to make us look good. If we decide it doesn’t, we can usually return it for a refund or exchange.
A good example of a high-risk high-reward purchase would be a new car. You can do all the research you want before you buy it, but there IS risk involved. A lot of risk. Tens of thousands of dollars’ worth of risk… because you can get a “lemon” in ANY brand of car. The rewards, however, can be high… comfort, prestige, that great new car smell… no scratches or dents… the envy of your friends and neighbors… and hopefully fewer repairs and problems than the old clunker you traded in.
What about high-risk low-reward purchases? You replace your heating system in hopes of more comfort and efficiency but find that you’re no warmer and the heat bill is just as high as before. Even if you are a little warmer and the heat bill is a little lower, you don’t get a lot of fun or pride of ownership out of that purchase. You spent several grand and didn’t do much more than maintain the status quo. Big deal… How much fun is a new roof? Repaving your driveway? There is risk of poor workmanship or materials – and a lot of money – involved in all these purchases, but not much of a reward.
In the furniture business, the best example of high-risk low-reward purchases is a new mattress. You’re spending several hundred dollars or more… no one is ever going to see it… you can’t park it in front of the house… how much fun is that? Well, we’re thinking about this one THE WRONG WAY, folks. Nothing you purchase other than prescription medication is going to have a greater effect on the way you feel than the proper set of bedding. That new car in the driveway won’t make your aching back feel better… it won’t make you sleep better, either.
If you come to Bowen Town & Country Furniture and select a new Tempur-Pedic Swedish Sleep System, the risk vanishes as well. Sleep on your new Tempur-Pedic for up to 90 days and if you don’t like it, Tempur-Pedic will TAKE IT BACK and refund your money (minus a reasonable shipping charge)! Tempur-Pedic makes buying a new mattress a low-risk, high-reward proposition. Come in today and let us give you a demonstration – and if you do it before May 31, 2009 you’ll have a chance to win a new Ford Mustang or one of many other prizes from Tempur-Pedic.
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