When the summer air turns crisp and leaves turn shades other than green, stores seemingly transform overnight. Suddenly, everything ranging from baked goods to candles carries the scent of pumpkin spice. Companies are smart enough to see this as an opportunity to capitalize on their customers. They have discovered that selling a feeling, not just a product, can be incredibly profitable. This is known as the “cozy economy” which thrives on warmth, nostalgia, and emotions.
A Simple Season Turned into Opportunity
You may remember a year when Pumpkin Spice Latte was served. Did you know that Starbucks originally launched it in 2003 in only around 100 stores in the Washington, D.C. and Vancouver, Canada areas? Now it has seemingly changed the space around autumn/fall branding. Starbucks figured out a way to not just sell coffee but sell an experience that captured the essence of fall. This single product now earns over $100 million annually and sparked an entire wave of seasonal branding. Today, everyone from Bath & Body Works to American Eagle creates limited-edition fall lines to capitalize on this seasonal business opportunity.
Psychology of Cozy
“Cozy” marketing works because it aims to connect with people on an emotional level. The five senses play a role of what we deem to be fall coded. The crisp air, crunchy leaves, soft cardigans, and pumpkin chocolate chip cookies are all symbols of fall. Companies use this to their advantage by combining sensory branding with the power of scarcity. Think how companies use warm lighting, cinnamon aromas, or the sound of crackling fires to draw you in to feel comfort, safety, and familiarity. Limited time offers drive urgency to buy products before they are gone “forever”.
Cozy Beyond the Big Brands
It is easy to see when stores at the scale of Walmart and Target are shifting their focus towards autumn/fall themed products. Local businesses have learned to join in the fun too. Take a walk down Historic Downtown Pocatello and you will be welcomed with the scents, feelings, and visuals of autumn. Local shops are releasing seasonal drinks, boutiques bring out small autumn collections, and bakeries fill their shelves with pumpkin and apple treats. These seemingly “small” shops show that these big brands aren’t the only ones benefitting from this “cozy” craze. The key is to align products with the emotions of the season, and it doesn’t matter how big or small the brand is to benefit.
“The Business of Cozy” highlights how understanding human emotion can create a powerful differentiator in a business strategy. It’s not just about what a product offers, but how it makes the consumer feel. Recognizing how emotions affect people’s purchasing behaviors and how seasonal opportunities can provide footholds in a market, may allow another business to find their own “pumpkin spice” success story.
References
Peiper, H. (2023, August 23). PSL turns 20: The story behind Starbucks Pumpkin Spice Latte. Starbucks Stories. https://about.starbucks.com/stories/2023/psl-turns-20-the-story-behind-starbucks-pumpkin-spice-latte/
Smith, W. (2024, September 24). Embracing the cozy season: How to build emotional connections with fall campaigns. Radar Marketing Group. https://radarmarketinggroup.com/2024/09/24/embracing-the-cozy-season-how-to-build-emotional-connections-with-fall-campaigns/?utm