Familiarity bias has a strong effect on what you buy. There are often better options out there instead of just sticking with what you know. So, change up your comfort zone and expand your horizons like I did with LatestLiving.com - a growing new retailer offering the latest, high quality, affordable home decor and furnishings. Read on to learn more about my newfound familiarness with this bias and this brand.
What is the familiarity bias?We tend to develop a preference for things merely because we are familiar with them. Think about a purchase you recently made based on the sole reason that you were aware of it. Was that a good purchase or not? For me, it the newest Nicholas Sparks’ book titled “Two by Two”, I’m generally a fan of the author’s work, but had I read the back-cover description of this book I would have realized I wasn’t in the right mental state for the subject at hand and therefore regretted my purchase.
How does familiarity bias impact me?As I just demonstrated, the shortcuts that allow us to navigate each day with ease are the same ones that can potentially trip us up in our ordinary judgments and choices,. This happens in all sorts of areas ... in everything from investments to health to finance to romance and to shopping. With mega-spending on the horizon for Q4 holidays I thought it time to mention this topic and give you a chance to evaluate your consideration sets.
Can I do anything to combat familiarity bias?I am a creature of habit and generally succumb to list-making and gift-shopping at my go-to stores: Nordstrom, Anthropologie, Toys’R’Us, William Sonoma, Amazon, Restoration Hardware, Aveda, Lily & Violet (a local boutique), etc. However, each year I try to take a beat and seek out one new, latest and greatest retailer to add to the list that would widen my options and give me novel ideas. This year, I happened upon LatestLiving.com and decided that would be my pick. Lucky for me, they even sponsored this post!
Will I be better off without the familiarity bias?Fate may have played a hand in my choice as it was hard to resist the fun and wacky inflatable bean bag chairs that came in a range of novelty items including money. Yes, you heard me right: money! Check out the item below along with a handful of other curated wish-list items that I have my eye on for possible present ideas including keepsake frames, luxury bathrobes, bamboo dispenser set, décor pillows, and even a sweet new table lamp. I encourage you to debunk your general habits this week and check out someplace new, like LatestLiving.com, or elsewhere … hopefully, you’ll be glad you did!
My Newfound "Familiarities"...