“It’s on sale!” If that phrase gets your heart beating faster, here’s a question: Why is it so hard to r
According to a recent Harris Interactive poll, 3 out of 4 people admitted they buy things they don’t need just because they’re on sale.
So, why do we do it? Getting a great deal makes us feel happy and satisfied. We also feel smarter than the people who paid full price. And savvy shoppers love to brag about the deals they found. In fact, it used to be that people bragged about how much money they spent – but now, people brag about how little they spend. But a bargain isn’t a bargain if you’re buying something you don’t need or will never use. But that impulse isn’t entirely your fault. Stores and marketing specialists make it virtually impossible for you to resist spending.
So here's what makes us fork over our hard earned cash according to the Food and Brand Lab at the University of Illinois.
• Signs with numbers - like, '3 for $3 dollars' - can double how much you buy. Because even if you only needed one item, you think you're getting a bargain so you spend more to get 3. And you do it without even making a conscious decision.
• Another thing that parts us from our money the shopping cart. Not only do you buy more when you use a cart, but the nicer the cart is, the more you buy.
• Also, customers spend 10 to 15% more when they pay by credit card versus cash.
• And lastly, there's "captive pricing", which marketing experts explain as a product that ropes you in with an incredible price, only to require expensive accessories and supplies.
Like the upgraded cell phone for $29.99 that you have to buy 2 new chargers for, at $50 dollars a pop, one for the car and one for home. That cheap cell phone just cost you $130 bucks.
So, why do we do it? Getting a great deal makes us feel happy and satisfied. We also feel smarter than the people who paid full price. And savvy shoppers love to brag about the deals they found. In fact, it used to be that people bragged about how much money they spent – but now, people brag about how little they spend. But a bargain isn’t a bargain if you’re buying something you don’t need or will never use. But that impulse isn’t entirely your fault. Stores and marketing specialists make it virtually impossible for you to resist spending.
So here's what makes us fork over our hard earned cash according to the Food and Brand Lab at the University of Illinois.
• Signs with numbers - like, '3 for $3 dollars' - can double how much you buy. Because even if you only needed one item, you think you're getting a bargain so you spend more to get 3. And you do it without even making a conscious decision.
• Another thing that parts us from our money the shopping cart. Not only do you buy more when you use a cart, but the nicer the cart is, the more you buy.
• Also, customers spend 10 to 15% more when they pay by credit card versus cash.
• And lastly, there's "captive pricing", which marketing experts explain as a product that ropes you in with an incredible price, only to require expensive accessories and supplies.
Like the upgraded cell phone for $29.99 that you have to buy 2 new chargers for, at $50 dollars a pop, one for the car and one for home. That cheap cell phone just cost you $130 bucks.
