A number of studies have found that consumers continue to have a strong emotional connection to cashMoney in physical form such as banknotes and coins. More due to its tangibility. For example, research conducted by David Gal at Northwestern University, found that men salivate when they see a pile of cash, a generally natural physiological reaction to an object of desire.
Also, Gretchen Rubin, author of The Happiness Project asked her LinkedIn and Twitter followers how they felt when using cash or a credit card. The responses demonstrated a particular emotional attachment to cash, defining it as “organic”, “tangible” and offering a greater sense of “responsibility”.
And finally, after carrying-out a study on the behaviour of shoppers using paperSee Banknote paper. More versus plastic, Duke University researchers concluded that “using cash seems to increase the psychological ‘pain’ or sacrifice of the act and creates more affinity with the product or brand”.
These findings could influence brands and retailers to encourage consumers to choose paper moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More for their purchases for increased brand loyalty.
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