Jeff Koeze's Blog Good Food, Good Business, and the Good Food Business

8Feb/090

Premium Chocolate Compensates for Feelings of Powerlessness?

A great little behavioral economics piece in today's New York Times Magazine on the appeal of high-end chocolates.  As an example of a phenomenon known as "compensatory consumption"  it seems that people will pay more for chocolates when they are feeling powerless.  This opens huge opportunities to move some product -- say at departments of motor vehicles or following certain unmentionable medical procedures.

See's Candies is way ahead of us with the kiosks they've placed in airport terminals.  The key spot would be right after clearing security.

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