money Archives - The Coffee Class

Impulse Control

Kyle Cunningham — Fri, 24 Jun 2022 10:03:30 +0000

Problem? Coffee

Looking to save money by adopting better shopping habits? Are you trying to avoid spending half of your paycheck on impulse buys when you take a trip down to the strip mall? Or maybe you’re looking to get customers to spend more money by altering their shopping habits. Something that would increase impulse buys to maximize your store’s profit. Both of these problems each have a common solution that you may not expect, coffee.

Impulse Buys

Coffee, specifically caffeinated coffee, is a stimulant that increases dopamine. This would reduce self-control in users and increase impulsivity and possibly, increase impulse sales as well. Researchers conducted an experiment that separated participants before shopping and had one group drink caffeinated coffee whilst the other group drank decaffeinated coffee or water. Unsurprisingly, the caffeinated coffee group bought significantly more items than the other group. The caffeinated group purchased more non-essential items such as candles, and fragrances. The noncaffeinated group purchased more essential items in comparison.

Impulse Sells

The study was also conducted on participants before online shopping. The two experiments yielded the same results. Caffeinated participants purchased more non-essential items and more items in general than the noncaffeinated group. Depending on which side of this problem you are on, I would suggest taking a bottle of water with you the next time you are out shopping. I would also suggest offering a free cup of joe at the front door of your store just as a little investment.

Would you like to know more?

By John Toledo

The post Impulse Control appeared first on The Coffee Class.

The Coffee Pitch

Kyle Cunningham — Mon, 29 Nov 2021 02:37:23 +0000

Step up to Pitch

The intricacies of business often overshadow the routine parts of the business. Sure, you can understand your market inside and out, you can explain to any investor every detail of last quarter’s earnings report, and you can calculate the rate of growth per day of your business. All are important to a business in their own way, but none of which can overtake the importance of people. People are hard to come by, especially competent ones, and the ones that do come by come with a hefty price tag. This is why it is so important for anyone, business owners to business employees, to network.

Coffee for Two

You’ve heard of the elevator pitch, right? A supposed thirty-second conversation held in an elevator to a possible valuable connection in an attempt to expand your network. An instrument such as this has most certainly helped many find their way around town, but what happens beyond the elevator pitch? A business-savvy individual would probably invite their new friend out to a cup of coffee to continue their pleasant conversation.

Cafe Business

This is where your choices can make or break the meeting. When choosing a place to meet up for some coffee, make sure to keep distance in mind. Choose a location in proximity to the person you invited. Reduce their stress about meeting you as much as possible. Find a location appropriate for the meeting. If it is with a group, make sure the venue is not as crowded so that you can hear each other. In arranging the meeting, make sure you give the kind gesture of paying for the coffee!

Would you like to know more?

By John Toledo

The post The Coffee Pitch appeared first on The Coffee Class.