In a recent research project, Georgetown McDonough faculty explored the effect of waiting on consumer behavior. John Cui, assistant professor of operations and information management, Chris Hydock, assistant professor and the research director of the Georgetown Institute for Consumer Research, and Sezer Ülkü, associate professor of operations and information management, discuss the research in Psychology Today:
In a series of experiments conducted in the lab and on the field, we found strong evidence to support the hypothesis that the longer customers wait before making a consumption decision, the more they consume. For example, diners would want their dinner service to last longer if they had waited longer for the table; shoppers would buy more T-shirts after having a longer wait at a clothing store during sales; people would play more rounds of an arcade game if they had to wait longer for earlier customers to finish. This is driven by mental accounting; a larger purchase allows people to offset the fixed cost of the long wait. If they were to purchase only a small quantity after investing all that time in waiting, the long wait would not be worthwhile.
To read the full piece, visit https://www.psychologytoday.com/blog/the-initiative/201708/new-research-how-waiting-impacts-consumer-behavior.