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Friday, January 19, 2024

The Daily Money: What's the psychology behind crazes like the Stanley insulated cup?

We've always had fads and crazes. What's different about the latest craze like the Stanley insulated cup? We look at the psychology behind fads.

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Fri Jan 19 2024

 

Betty Lin-Fisher Consumer reporter

@blinfisher

Happy Friday from snowy Ohio! This is Betty Lin-Fisher with today's The Daily Money. Each Friday, I will bring you a consumer-focused edition of this newsletter.

After reading about and seeing images of the door that fell off an Alaska Airlines flight, or the plane in flames on the Tokyo runway, consumers are thinking about aircraft safety. It's unrealistic to ask if you as a traveler can "kick the tires" and inspect an aircraft before you get on. But there are some telltale signs that your next flight could be dangerous, particularly if you're traveling internationally or in a country with lax aviation regulations, writes USA TODAY columnist Christopher Elliott.

Flying in the U.S. is really safe, he said. Elliott provides good advice in his column for all travelers.

What's the psychology behind crazes like the Stanley cup?

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Bella Boye poses with her Stanley cup collection.

Bella Boye

Depending on your age, do you remember the craziness of "having to have" Cabbage Patch Kids, Beanie Babies or Tickle Me Elmo? Or did you ride your new Big Wheel around the cul-de-sac or wear the latest fashion item to school to show off?

There have always been fads or the "in" thing that kids – and adults – have coveted. So what's different now? The latest "must-have" has been a pink or red Stanley insulated cup (not to be confused with the NHL's championship trophy!) These "limited edition" cups caused mostly female consumers to sit outside Target and Starbucks for hours recently like it was Black Friday in order to rush the aisles for the TUMBLER (DELETE up).

What's the psychology behind creating this buzz that you must have this item? What's different now? Social media – particularly TikTok – and the invention of influencers are the biggest change. Now you can broadcast that you've got the "must have" thing to millions instead of just your neighbors. Check ou t this story I wrote with my colleague Bailey Schulz to understand the "why" behind our consumer behavior.

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πŸ” Today's Menu πŸ”

Soy sauce is a go-to for a lot of consumers while cooking or to add a little flavor to your dinner plate. But is it healthy for you? Take a look at this story by my USA TODAY colleague, Daryl Austin.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

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Bella Boye of Tampa, Fla. is photographed with her Stanley cups for a story on the craze around the insulated item.
 

'I don't feel silly having a million': Why people love Stanley cups

FOMO and social media have added fuel to an age-old marketing practice: creating buzz and fads, experts say.

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