Buy one get one free. One cup of coffee sells for $2, a cup of coffee and a pastry sells for $2.50, and two cups of coffee and two pastries sells for $3.50. Meanwhile, the pastry alone is a dollar. What are you buying? Hmmm! In such a scenario, you’re being nudged to choose the best possible outcome that not only benefits you but the seller as well. This is nudge theory at play: a crucial part of behavioral economics that’s often used by stakeholders, organizations, governments, and retail service providers to help their customers choose their products and services. Have you ever been nudged, huh? In this article, let’s learn about nudge theory, how it works, and whether its even ethical to implement it for customer satisfaction.
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