Global Research Syndicate
No Result
View All Result
  • Latest News
  • Consumer Research
  • Survey Research
  • Marketing Research
  • Industry Research
  • Data Collection
  • More
    • Data Analysis
    • Market Insights
  • Latest News
  • Consumer Research
  • Survey Research
  • Marketing Research
  • Industry Research
  • Data Collection
  • More
    • Data Analysis
    • Market Insights
No Result
View All Result
globalresearchsyndicate
No Result
View All Result
Home Consumer Research

EVERYDAY CHEAPSKATE: Your consumer behavior is keeping you broke | Leisure

globalresearchsyndicate by globalresearchsyndicate
November 9, 2019
in Consumer Research
0
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

Do you know what I love? Walking into my supermarket the day after Thanksgiving and hearing the best Christmas music ever. Yeah! And if I wasn’t in the mood to bake Christmas cookies before I got there, just hearing that lovely music changes everything. Right there, that proves I am the quintessential impulsive consumer. That retailer’s got my number. Playing the right music isn’t all that retailers do to manipulate us into dropping more money than we intended. Retailers manipulate all of our senses so we spend more money. Subtle, psychological cues are worth paying attention to when we’re shopping. If we know about them, we can take steps to avoid their effects.

There are lots of cues in stores that have a big impact on what we decide to buy.

Color is one of them. Retailers use color on the walls, floors and display tables to their advantage. Red, for example, is always associated with sales because it inspires people to take action. Red is stimulating.

Think you’re the only one who detected that amazingly subtle yet delicious scent as you strolled in? Richard Axel and Linda Buck won a Nobel Prize for their work in understanding our olfactory system, which allows us to identify and categorize 10,000 scents, all of which can trigger powerful, nostalgia-laced memories. No wonder a specific fragrance reminds you of your grandmother, or the smell of pine trees floods your mind with childhood camp experiences.

Scents can subconsciously affect the way we spend. Theaters, bakeries and countless other retailers know this and capitalize on it big-time.

Many retailers create rest areas where you will be prompted to stop and look around. It might be at the checkout or in an area that screams “cozy place to stop and look around.”

Once they have that nailed, they load up the area with impulse buys — small things, lovely things they know you won’t resist. They’ll put them at eye level to aid you in your sweet moment of rest.

We’ve come to expect that a sale comes with a sign. Most of the time it is a red sign with big black numbers and smaller words that don’t really matter. We’ve seen it so much, now we are like Pavlov’s dogs: We react without thinking about it. And what if the word “Sale!” is replaced by “Hot!” or “Bargain!”? We don’t notice. We grab and go because it’s gotta be a great bargain. Retailers capitalize on what they’ve learned from Dr. Pavlov.

This one is so crazy, I still have trouble wrapping my head around it. Why is it that humans stop and consider the price thoughtfully when it ends in with .00, but if it ends in .99 or .95, our brains shut down and automatically register it as a good price? Why, oh why? I don’t know, but the truth is that they do. It’s called the left-digit effect.

Subtracting 1 cent from a round price, such as $9.00, not only changes the rightmost digit but also decreases the leftmost digit of the price (e.g., $8.99). If we’re not totally aware of what’s going on, we see the item as $8. Retailers count on the “just-below price” all the time because they know we’ll fall for it — all the time.

The best way to win when we go up against retailers — which, of course, we do every day — is to be aware. Stop being a mindless, impulsive, broke consumer. Go in with a plan, a list, cash and a strong mind. Make a note of the sounds and smells. Look at the pricing structure. Do a mental, “Ah-ha! I know why you’re doing that!” when you see prices ending with .95 or .99. Then take control of yourself. Don’t give in to those silly ploys. Resist the impulse displays, get what you need and get out of there!

Mary invites questions, comments and tips at EverydayCheapskate.com, “Ask Mary a Question.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of Debt-Proof Living, a personal finance member website and the author of the book “Debt-Proof Living,” Revell 2014. To find out more about Mary visit the Creators Syndicate webpage at www.creators.com.

Related Posts

How Machine Learning has impacted Consumer Behaviour and Analysis
Consumer Research

How Machine Learning has impacted Consumer Behaviour and Analysis

July 12, 2023
Market Research The Ultimate Weapon for Business Success
Consumer Research

Market Research: The Ultimate Weapon for Business Success

June 29, 2023
Unveiling the Hidden Power of Market Research A Game Changer
Consumer Research

Unveiling the Hidden Power of Market Research: A Game Changer

June 29, 2023
7 Secrets of Market Research Gurus That Will Blow Your Mind
Consumer Research

7 Secrets of Market Research Gurus That Will Blow Your Mind

June 29, 2023
The Shocking Truth About Market Research Revealed!
Consumer Research

The Shocking Truth About Market Research: Revealed!

June 29, 2023
market research, primary research, secondary research, market research trends, market research news,
Consumer Research

Quantitative vs. Qualitative Research. How to choose the Right Research Method for Your Business Needs

June 29, 2023
Next Post

Healthcare Mobility Solutions Market Survey Report 2019 Along with Statistics, Forecasts till 2025 – The Market Publicist

Categories

  • Consumer Research
  • Data Analysis
  • Data Collection
  • Industry Research
  • Latest News
  • Market Insights
  • Marketing Research
  • Survey Research
  • Uncategorized

Recent Posts

  • How Machine Learning has impacted Consumer Behaviour and Analysis
  • Market Research: The Ultimate Weapon for Business Success
  • Unveiling the Hidden Power of Market Research: A Game Changer
  • Privacy Policy
  • Terms of Use
  • Antispam
  • DMCA

Copyright © 2023 Globalresearchsyndicate.com

No Result
View All Result
  • Latest News
  • Consumer Research
  • Survey Research
  • Marketing Research
  • Industry Research
  • Data Collection
  • More
    • Data Analysis
    • Market Insights

Copyright © 2023 Globalresearchsyndicate.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT