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Humans are often said to be not "rational animals" but "rationalizing animals." Above all, humans "desperately" dislike thinking. Despite weighing only 1.4 kg, or about 2% of our body weight, the brain consumes 20% of the body’s total energy. As a result, humans tend to minimize the use of their brains whenever possible.
Psychologists describe this tendency as "cognitive miserliness." Behavioral economics is the study of how these cognitively frugal humans make judgments and decisions. This article aims to present marketing and service strategies for the digital age, grounded in the scientifically proven principles of behavioral economics.
Gifts: The True Essence of Congratulations
Modern technology, like Facebook or KakaoTalk, frequently notifies us of friends' birthdays, making it easier than ever to exchange gifts or send congratulatory messages. Even I receive celebratory emojis or messages with flowers and cakes through these platforms. Often, I jokingly reply, "Shouldn't you at least send a mobile gift voucher for coffee or cake with your congratulations?" While said in jest, there’s some truth to it—true congratulations feel more genuine with a tangible token, even a single flower.
The Chinese characters for "congratulations" (祝賀) reveal an insightful etymology. The character "祝" signifies praying in a temple, while "賀" comprises the components "貝" (shell, or money) and "加" (to add), symbolizing "adding money." Therefore, congratulations without monetary value may fulfill the "祝" but fail to meet the "賀." Simply put, humans, being inherently materialistic, regard gifts as a sign of sincerity in celebrations.
Why Gifts Strengthen Relationships
Danish author Tor Nørretranders, in his book Why We Behave Nicely When We Fall in Love, presents a fascinating theory about gifts. Unlike mere transactions, gifts create lingering connections between people. While buying and selling concludes as soon as the deal is done, gifting leaves an emotional residue, signaling a desire for a relationship. This explains why couples in the early stages of love put so much effort into choosing gifts.
Gifts also carry a temporal dynamic—they are often reciprocated later rather than immediately, fostering enduring relationships. For instance, giving a birthday gift ties the giver and recipient together until the reciprocal gesture on the giver’s birthday. This delayed exchange strengthens the relational bond.
Gift Experiences, Not Possessions
With the advent of anti-corruption laws like Korea’s Kim Young-ran Act, people have become cautious about gift-giving. However, gifts remain a powerful tool for building goodwill. Choosing the right gift requires thought and wisdom; spending more money doesn’t necessarily guarantee greater appreciation.
A study sheds light on this: employees were given either $300 in cash or a $300 dining voucher for a luxury hotel. While most preferred cash in surveys, those who received the dining voucher expressed greater joy, cherishing the unique experience it provided. This illustrates the emotional value of gifting experiences over possessions.
Strategic Gifting: Maximizing Joy and Memory
To make gifts memorable, two principles are key: maximize pleasant memories and minimize unpleasant ones. Psychologists call this "hedonic editing," the deliberate crafting of positive memories.
For instance, instead of offering a flat 15% discount, break it into smaller segments—5% for members, 5% for weekend shoppers, and 5% for holiday specials. Similarly, distributing free samples separately from purchased items enhances the customer’s joy.
One personal experience stands out: after purchasing a car, a sales representative gifted me a dashboard camera during a repair visit. His thoughtful gesture left a lasting impression.
The Importance of Brand Perception
Gifts should consider the recipient's perspective. While givers often evaluate options relatively (e.g., comparing prices), recipients assess gifts absolutely, focusing on the brand and perceived quality. For instance, a luxury scarf is likely to be appreciated more than a pricier but lesser-known golf shirt.
When choosing gifts, prioritize items that align with the recipient’s aspirations or desires, even if they’re not strictly "necessary." A premium brand lipstick, for example, may elicit a more favorable response than a mid-range cosmetics set.
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May is a month of celebrations in Korea, with events like Children’s Day, Parents’ Day, Teachers’ Day, and more. By understanding the psychology of gifting, you can create more meaningful connections with thoughtful presents. Always remember: the value of a gift lies not in its price but in the thoughtfulness and intention behind it.
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