In some markets, modern shoppers weigh color more critically than any other factor. The color of a product can account for between 62 to 90% of the decision to purchase. A relevant example of this phenomenon is in the housing market. Homes with brown colored walls sell for over $2,000 less than expected. Meanwhile, homes with neutral colored walls like white or gray will sell faster than others.
Personal taste can explain some of this phenomenon, but it runs deeper than that. Marketers who effectively use color psychology in marketing in their materials can see incredible returns on value. This is because different colors can trigger physical reactions in the human brain.
Take red for example. Red increases heart rate and blood pressure of observers. It can be associated with urgency or a need for attention. Red leads to more conversions than any other color. This makes it perfect for call to action buttons or landing pages on a company website.
Some colors work better with certain demographics. Purple is a top 3 favorite color for women, but ranks in the bottom 3 for men. As a result, marketers are more likely to feature purple in businesses marketing primarily to women.