Enjoy an additional 20% off! Factory clearance! Final chance! Such tantalizing propositions may greet you during your shopping escapades. However, do they genuinely represent advantageous deals?
To delve deeper, Life Kit consulted Brian Vines, a journalist at Consumer Reports, along with Lindsay Weekes, editor-in-chief of Brad’s Deals, a platform that compiles offers from online merchants.
They articulated prevalent marketing tactics that companies deploy to tempt consumers into purchasing more—and provided insights on how to make judicious acquisitions.
Technique 1: Fostering a Sense of Urgency
Upon encountering phrases like “buy now” or “limited-time offer,” caution is advised, according to our experts. Retailers capitalize on urgency to compel shoppers into hasty buying decisions, emphasizing the need for immediate action.
This method often hinges on a consumer’s fear of missing out, as Weekes elucidates. It fosters the notion that if a purchase isn’t executed immediately, that opportunity may vanish permanently.
When faced with such an offer, take a moment to reflect. Remember, Vines suggests, companies are perpetually producing new stock. “You will not miss out.”
You may discover that your desire to buy stemmed solely from the pressing nature of the promotion. Alternatively, waiting can often yield superior deals, particularly for end-of-season sales, Weekes notes.
Technique 2: Highlighting the “Original Price”
Upon noticing a price tag indicating an “original price,” say $200, next to a current price of $75, one encounters a phenomenon known as price anchoring.
“This fixation on the [higher] price versus the sale price can create an illusion of added value,” Weekes explains, often intensifying your desire for the item.
Frequently, that purported “original price” has either never existed or has not been relevant for an extended period, Weekes cautions.
To navigate this ruse, our experts advise concentrating on the actual selling price. If the tag reads $75, evaluate whether you deem it a worthwhile acquisition, independent of the initial price.
Technique 3: Inflating the Base Price
Another common tactic entails raising an item’s base price prior to peak shopping seasons, subsequently presenting a steep discount of, perhaps, 40% or 50%. New consumers may find that, despite the supposed reduction, the product’s price remains unchanged—or might actually be higher than previously. This approach is termed “high-low pricing.”
To circumvent this trickery, experts recommend conducting price comparisons. Investigate historical pricing data online, or survey how much the retailer has previously charged for the item.
Additionally, explore if competitors or secondhand platforms may offer the item at a lower cost. Particularly for apparel, it is often possible to acquire the same pair of jeans, tags still attached, at a significantly reduced rate when purchased secondhand.
While in-store, check online for better pricing at a competitor’s location. Vines suggests you inquire with a sales associate about possible price matching. Moreover, contemplate adding an item to your online cart and monitoring its price over several days or weeks for fluctuations.
Technique 4: Cultivating a Fantasy
Marketing strategies often revolve around selling an idyllic fantasy: envisioning a flawless holiday gathering where all is harmony, or picturing yourself at your most magnetic and self-assured.
“Such narratives appeal to our aspiring selves, highlighting the accumulation of items that signify our well-managed lives,” Vines notes.
Thus, if you find yourself processing a purchase while dreaming of your idealized family or self, experts advise pausing.
While gift-giving remains valuable, remember that alternatives exist beyond standard purchases. You might consider baking beloved cookies, organizing a communal meal, or an adventurous family hike. Unique treasures from a secondhand store can also carry heartfelt significance, equaling that of store-bought items.
Source link: Houstonpublicmedia.org.
