26 Sep '16, 3am

#Brandloyalty is more successful at reaffirming confirmation and #cognitivebiases than saving #money.

Being brand loyal is rewarding – or so you think. Because of several cognitive biases, brand loyalty actually makes Singaporeans spend more. Knowing how to save money and spend wisely is well and good, but what really drives our money habits? Why do we Singaporeans spend as we do? In our new Money Mastery series, we take a look at the psychological workings behind the scenes that govern your relationship with money. Being brand loyal is rewarding. You get special invites, exclusive gifts, dibs on the latest announcements, motivation to scream at complete strangers over the Internet – all for the privilege to spend more money than anyone else. In today’s confusing world, it’s more taxing to choose between the brands and packages that come flying our way. Better to choose a particular brand, stick to it, and it’s apples all the way, right? After all, we’re rational creatures...

Full article: http://singaporedaily.net/2016/09/26/staying-loyal-brand-...

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