For years my wallet would get distorted after a period of usage. No matter how fancy or sophisticated, it met the same fate. Remember the Seinfeld episode where George has to sit at an angle with his wallet under one of his buttocks that should give you an idea why those poor wallets have such a terrible destiny. Then couple years ago on my birthday I received a Coach wallet and I was determined to preserve this one for as long as it took. The first thing I did was started carrying it in my blazer pocket. The first time I put it in my pocket a thought crossed my mind. We make brand decisions with our heart and emotion and pay from our wallet, now there is a connection.
I guess there is a reason why shirts tend to have pockets right over the heart? What is funny is it is said ‘The way to a man’s heart is through his stomach and to a woman’s heart is through flattery’. Wouldn’t it make more sense to have a pocket on the belly and not the chest? Women have it figured; to them the wallet is a fashion accessory. It is no wonder they carry it away from their immediate body on most occasions.
The good and bad part is with all the ‘stuff’ in the wallet its position has dropped for most men to the bottom rear while the heart is still up top! One more reason for marketers to focus on emotions and connect with the heart than just the wallet!
That being said it is tough to drive shaving cream and razors with any appetizing pictures of food? While women don’t buy any more maxi pads just because the package speaks to her saying ‘honey you look ravishing’? Patriotism has also only gone so far… ‘Made in
The negotiation involves a balancing act between the heart and the wallet. For years businesses that have let their brands languish at the expense of promotions have noticed a typical phenomenon where revenues increase while profits drop. Closure has been motivated purely based on the price at point of purchase, conversion at the point of purchase does little to leverage the emotional bond and the sixth sense of the packaging itself. Then there is the phenomenon of the luxury market where the shopper has a strong emotional bond and one that is effectively communicated and reinforced in the store but the foot traffic is small and not quite enough to justify at a grocery, drug or mass merchandise stores.
