Swish Aside Wish List Problems

Asking customers to maintain wish lists seems like a good way to keep them interested in purchasing from you. And it is. But for best results, sweep away two problems for the retailer when using wish lists—problems shown in a pair of Kent State University studies.
     The first problem arises because placing an item on a wish list gives a bit of the satisfaction from actually possessing the item. With some consumers in some circumstances, satisfaction like this can sharpen purchase desire. But with wish lists, it can dull it. The benefits of actual ownership have been partially achieved.
     The second problem with wish lists comes about because of the delay between adding an item and buying it. Again, this could operate in the direction of increasing desire as the consumer discovers and thinks more about the item. But the passage of time often cools off passions and leads to questioning prior decisions—in this case, a decision to put the item onto the wish list. Also, in a continuing search over time for the best terms on the wish-listed item, the shopper might end up buying it from someone other than you.
     The researchers recommend that retailers develop ways for their customers to regularly interact with their wish lists. Basic purchase reminders aren’t enough. Perhaps continuing to send bits of information about the products and the latest customer reviews would serve this objective.
     Also decrease the time until purchase. Don’t let the wish list get moldy. One meaning of “swish” is “fashionable.” Let’s swish away wish list purchase delays in order to keep wish list items swish.
     When the wish list takes the form of a gift registry, there’s yet another possible problem. Researchers at Emory University and University of Texas-Austin found that people feeling closest to the intended gift recipient are quite likely to pick items different from what the celebrant has placed on the list. The reason is that close friends and family members want to personalize the gift by selecting something to signal the nature of the relationship.
     In the study, 25% of gift selections were from outside the gift registry among distant friends, while corresponding choice share among close friends was 64%. To improve the match between what the gift registrant lists they want and what the people buying the gift end up selecting, coach gift registrants to include items which carry relational messages.

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