Tricks of the trade to get you to buy things you don't need

These are not the times to go to supermarket and taking things you don't need. You know, the usual “two things I want” that end up in an overflowing - of products - bag and at least 50 euros less than the wallet - for things that a few months ago you spent 25 to 30 euros.

The ‘price boom’ data does not help to maintain the mental health, that you know that if you don't take care of it, you'll have to deal with many other health problems. This is no time for that. We can help.

Associate Professor of Consumer Psychology at Anglia Ruskin University (39.400 students around the world and with campuses in Cambridge, Chelmsford, Pittersburgh and London and collaborations with educational institutions in Berlin, Budapest, Singapore, Trinidad and Kuala Lumpur), Cathrine Jansson-Boyd wanted to lend a helping hand to avoid the unnecessary shopping.

THE PRODUCT MOVEMENT TRICK

Her article in Conversation It starts with «you might think you're buying what you need, when you need it. But whether you're shopping for food, clothes or gadgets, marketers use the power of psychological persuasion to influence your decisions - and help you part with your money.

If you think about it, I bet there's a good chance you'll remember yourself walking through a market and realizing that the layout of the store has changed. Maybe the toilet paper is no longer where you left it. Possibly you had a hard time finding the ketchup, too.

Why do stores love to change the location of everything? The answer is simple: changing the position of items in a store means that we - the customers - are exposed to different items as we wander around to find the things we need or want.

This trick can often significantly increase unplanned spending as we add extra items to our baskets, often impulsively, as we spend more time in the store».

THE IMPULSIVE MARKETS

Studies show that up to 50% of items in a supermarket are sold because of impulse buying. The same data shows that over 87% of shoppers make impulse purchases (see buying items that were not on the schedule and budget). It has been estimated that Americans spend an average of $276 each month in this way. In Greece we don't have relevant data, but we shouldn't be too far off.

Top of the list of ‘impulse buys’ are a) food/vegetables, b) household items, c) clothes, d) coffee, e) toys, f) take out.

It has been estimated that 2 out of 3 impulse buys ‘happen’ when we are in bed, mobile phone in hand.

The four reasons why we ‘fall into the trap’ are

a) our emotions (e.g. when we have a difficult day, many of us resort to shopping to ‘fix’ our psychology - even if it is something very small)

b) our past experiences (if we have a habit of buying things we don't need and spending more money than we want, it may mean that no one ever taught us how to handle our money - the money mindset is a whole field in psychology and refers to the whole of our beliefs and attitudes about money),

c) a good offer (64% of impulse buys are discount products); and

d) the pure love of shopping (when we shop, our brain releases dopamine - known as the neurotransmitter of happiness).

«Many factors, such as the need for stimulation and lack of self-control and “buy one get one free” cues, discounts and in-store promotions, play a key role in impulse buying.», writes Jansson-Boyd.

«An attractive offer can lead to a rush for temporary pleasure and this makes it more difficult to make a sensible decision. We get caught up in the perceived value of “savings” when we buy a product ‘here and now’ and other considerations, such as whether we really need it, take a back seat. The need for instant gratification is not easy to ignore.

Complementary products are packaged together and displayed as one product, with a price that often includes a significant discount. Game consoles, for example, are often sold together with two or three games. Grocery stores have “meal deal” packages, while websites are devoted to a whole range of tie-in offers.».

DOPAMINE IS NOT ALWAYS OUR FRIEND

Impulse buying is the goal of the traders, but as far as the consumer is concerned it may have consequences for his mental well-being. «It increases feelings of shame and guilt, which in turn can lead to anxiety, stress and depression. The issue can become more serious when impulse buying leads to over-buying - especially when people spend money they don't have.

There are, of course, some positives.

Studies have shown that online shopping gives a dopamine boost, as it is released in our brain when we anticipate pleasure. So while we wait for our purchases to arrive, we tend to feel more excited than if we had bought things in store.

If we can manage this pleasant feeling, then all is well. Unfortunately this is not always the case. The fleeting feeling of pleasure can sometimes lead to the start of a shopping addiction. This can happen when a consumer wants to constantly experience the dopamine boost and therefore makes purchase after purchase - to always be high. So, it gets out of control.

When we feel unhappy or anxious, we tend to believe that everything is out of control. As shopping allows us to make choices (choosing which store to go to, whether we like something, etc.), it can help us regain a sense of personal control and reduce the anxiety we feel - feeling that nothing is in our control. So they can be a more meaningful activity than many people think».

HOW TO CONTROL IMPULSE BUYING

To Ramsey Solutions is an American company that provides all kinds of financial advice for everyone. As the site states “6,000,000 families have changed their lives through the plan we provided”. It was created by Dave Ramsey, an economist and entrepreneur who has written many award-winning books. The podcast he maintains has 18,000,000 listeners every week.

Obviously he has dealt with impulse buying and has given ways to curb it. Let's get started.

1. Make a budget and stick to it

You need a budget and stick to it. It's not a magic wand. It is up to you to decide where the money goes, each month. They won't decide that on their own. It is important that you have decided how much money you will spend, before you start shopping. And only take that amount with you.

2. Give yourself permission to spend

Your budget also needs a distinct boundary between what you need and what you need for your entertainment and therefore your mental health. It can be $10 each month-or $100. Make sure the amount is reasonable and affordable for your budget.

3. Wait a day before making a purchase

2/3 of impulse purchases happen while you are in bed, on your mobile phone. It's so easy that you're always a few clicks away from a purchase. Just when you're about to hit the first one, don't. Sleep, wake up and if you still want to make the purchase, make it. You'll have thought about it in the meantime if it's something you'll actually use and ‘afford’. You need to be careful of offers that ‘expire in 24 hours’. Don't let the countdown beat you. Given some time the particular offer will reappear.

4. Don't shop when you're emotional

Don't let your emotions control your spending. We've all done it and we all know it's something that can happen very easily. How do we not repeat it? Stay away from shopping when your emotions get the best of you. Either way, the excitement of buying won't last long. What will last is the installments you may have put in, to make a purchase you couldn't ‘afford’, but thought you needed it for your psychology.

5. Stop the comparisons

If you are always comparing what you have (or don't have) with something else, you will never feel satisfied. It is a game you will never win. Instead of looking at what someone else has and thinking ‘I need that too’, take a step back and look at your life. Learn to be grateful for what you have.

By Niki Bakoulis