What makes you spend.. and how?
Be aware of the influences on your shopping behaviour
IT’S no harm for us all to look at our spending behaviour more closely from time to time, as we are subject to more outside influences on our spending than we think.
Many of us are familiar with marketing tools such as products in shops being positioned at eye level or at checkouts, the smell of fresh bread in store, nice music etc, but there are many other external influences on our purchasing decisions that we may be less aware of. Here are a few:
SHOPPING
Two for one offers: This is a great eye catcher and good value if you buy this item all the time.
But if this offer makes you purchase an item or even two that you won’t use, then it will just increase wastage.
Non-food aisle: The middle aisle is designed to break our focus and slow us down to browse so we lose sight of our list/plan. We get distracted and end up buying things we wouldn’t have done otherwise. We have all heard the jokes about going into the supermarket for a litre of milk and coming out with an angle grinder and an egg poacher.
FOMO
Fear of missing out is a major weapon that is used to sell more. Two words: iphone upgrades.
PSYCHOLOGY
Psychologist Robert Cialdini wrote a book called “Influence” which outlines how decisions are swayed. Give back: He writes that you feel obliged to give back, or reciprocate, if you get something free or unasked for.
For example, have you ever passed a farmers market or stall where someone was selling food and they give you a free sample, then engage you in conversation? It is rare that you go on not to buy something from them.
Scarcity: This is a common tactic. “Sale ends today”, “when they’re gone they’re gone” “one day only” and of course Black Friday and Cyber Monday all increase the pressure to spend within a particular time before the offer ends. Social proof: Influencers play a major part in our desire to spend, as do actors, footballers and other famous people hawking products for big bucks. Seeing these people wear, eat, drive, listen to or drink products makes us think subconsciously “if they like it, it must be good”. But is it good for you? Liking: This is why salespeople bring clients for golf, drinks, football matches etc. They don’t do this because they like their clients, but because they want their clients to like them and be obliged to them, and ultimately to buy from them. So next time you open your wallet, think of all those influences at play.
We get distracted and end up buying things we wouldn’t have done