The holiday season is upon us, and we’re all feeling the pressure to rush to the mall or shop online to cash in on last-minute deals and freely spend on pricy products, writes Caroline Delbert for Stacker.
At this time of year, it’s easier than ever to overspend. Stores know exactly how to attract shoppers with enticing advertising and sales tactics to draw you in.
Here are five key ways shoppers overspend so that you can avoid it in the future:
1. Promotional emails to get your attention
Whenever you buy from a store, the company will always try its hardest to sign you up for their promotional emails. These messages ramp up during the holidays with advertisements encouraging you to come in or go online to shop, showing off new merchandise, and sending enticing email ads about all their new “deals.” Unsubscribing from these email lists can help a lot in resisting this temptation.
2. Stores change their layouts
When stores change their layouts, it means we’re more likely to stay and wander around more, spending time looking at various displays and being tempted into buying something new. We’re much more likely to pick up items we didn’t intend to buy in the first place. To avoid this, ask an employee where you can find the exact item you’re looking for.
3. Shoppers set unrealistic budgets
While many households keep budgets to monitor their budgets, when it comes to online spending, many people struggle with impulse buying and exceeding their limits. Setting realistic budgets and sticking to them can help prevent overspending in this area.
4. Shoppers feel false urgency
How many times have you been emailed that a sale is ending and you need to cash in on this opportunity now? Or have you been shopping online and told your item will stay in the cart for only 15 minutes? These tactics make you anxious to purchase and cause unplanned spending. Take a minute to remind yourself that there will always be more deals in the future.
5. Shoppers love a bargain
Every store loves to advertise the various bargains they have going on for different products across the store. We love to think we’re getting a good deal but to avoid unnecessary spending make sure you think carefully about whether you really need or want these things that are on sale.
Read more about other common ways shoppers overspend at Stacker.