Strike while the iron is hot: Temperature affects consumers' appetite for risk

Abstract

Many consumer decisions—from trying a new brand to trying a new recipe—involve risk. However, although consumers' appetite for risk has received over 50 years of investigation, the impact of situational variables (e.g., atmospherics) on consumer decision‐making involving risk remains relatively unexplored. To address this gap, the current work examines the influence of temperature, a ubiquitous situational influence, on consumers' inclination toward risk. Across four studies, we find evidence for a positive relationship between temperature and risk‐taking, using multiple operationalizations of temperature and measurements of risk. Evidence suggests that this effect is driven by warm temperature engaging the Behavioral Activation System, which in turn heightens risk‐taking.

Does the Weather Still Affect Me When I Shop at Home? The Impact of Weather on Online Shopping Behavior

“…Huang, et al [54] compared the differences in consumer risk appetite among sales channels and showed that consumers who preferred shopping offline were more risk-averse than those who preferred to shopping online [55]. Lundberg, et al [56] innovatively showed that indoor ambient temperature influences consumers' risk-taking and thus their purchasing decisions.…”