The real reason for Shein’s success? A cognitive bias known as ‘temporal discounting’

An ASU marketing expert investigates the hidden costs associated with cheap goods.

In this story published Oct. 15, 2024, in Fortune:

And yet consumers appear to be voting with their wallets in favor of cheap goods, creating a race to the bottom as companies slash prices and quality to compete. But there's a way to stop the cycle. My research suggests that consumers do care about durability — but it's rarely top of mind when they're making a purchase. Better marketing that emphasizes how long a product lasts can unlock dormant demand for high-quality goods.

– Neeru Paharia, professor of marketing and Juanita and Phil Francis Faculty Fellowship