Buyer beware: Retailers use marketing tricks to make you buy more at their stores and online. Keep these eight retail psychology tricks in mind as you shop to keep more cash in your pocket.
In-Store Retail Psychology Tricks
1. Essentials on the Perimeter
Grocery layouts are strategic. Fresh foods, like produce, meat and dairy, are located on the perimeter, making you walk the whole store to gather the essentials. Save money on groceries by sticking to your list.
2. Eye-level Buys
It’s a common practice: placing higher dollar, brand-name products at eye level, where you’re more likely to see and buy them. Cheaper, generic goods are generally located on inconveniently low or high shelves — the ones you’re not going to see on a quick scan.
3. App Notifications
Downloading your favorite store’s app can pay off in bonus coupons, but it’s also another vehicle to advertise not-so-stellar buys. Turn off push notifications to minimize the temptations this retail psychology trick can bring.
4. “Free” Demos
That makeup consultation may come with a price — pressure to purchase the products used. In-store customer service representatives may have the advice you need, but remember their job is to sell. Instead, read online reviews of the products you’re considering before heading to the store.
Online Retail Psychology Tricks
5. Free Trials
First box free? Next time you sign up for a meal kit delivery service, pump the brakes. Free now could mean $70 next month. If you plan to cancel, set an alarm on your phone as a reminder.
6. BOGO Deals
Buy one get one free. Purchase one for $25, get a second for $10. These deals are great in theory — if you actually need both items. But don’t be tricked into buying multiples if the numbers don’t add up or the products will sit in your closet or garage unused.
7. Free Shipping
Online retailers often tempt shoppers with free shipping once they hit a certain dollar amount. This retail psychology trick gives you a target amount to spend, probably before you even know what you want to buy! Before you add another item to your cart to secure free shipping, ask yourself if it’s something you really need.
8. Site-to-store Shipping
Next time you choose free shipping to the store, think again. Chances are you’re likely to spend more money on that trip to pick up your purchased item.
Get Back on Track
Have you strayed from your spending plan? Contact your Farm Bureau agent today to help you get back on track to budgeting success.