Sales are awesome. They are also hard to resist. We're guilty of posting up sales that offer costumers a good chance to save on items they want. But how much are you really saving? Dr. Kit Yarrow of Psychology Today believes that people psychologically cannot resist the opportunity of a sale.
In her latest column, Yarrow states that shoppers undergo competition to see who can accumulate the best sale priced goods, and also they have a fear of missing out on the sale itself. However, Yarrow has also given solutions to these circumstances. "The solution is to make a list of coveted items and only buy what you’re sure wanted before it went on sale." Yarrow says. Sounds like some pretty sound advice.
Also, Yarrow believes a shopper should value the item without the perceived discount, i.e., how much something is worth to you. Don't look at the item as something that has been discounted 80 percent. Ask yourself, "would I pay $150 dollars for this if that was the retail price?" If answer is no, put it back.
A shopper should also focus on how they are spending their money, not saving. All the savings add up to real credit card bills, which may put you in debt. Debt is no joke. Although you may have saved $75, you also just spent $225. No one is handing you $75 to invest or put in your back account.
Lastly, Yarrow finds that sale shoppers aren't as satisfied as non-sale shoppers. "In my research I’ve found that sale shoppers ultimately spend more money than non-sale shoppers. They often purchase things that aren’t truly satisfying; and because they aren’t satisfied they continue to shop. Additionally, the rush they get from snagging a bargain has an addictive quality - the products they purchase are in some ways secondary." Yarrow says.
The article doesn't tell you: don't shop sales. It simply states, think about what you're buying. Don't make impulse purchases that sit and collect dust in your closet, and dents in your bank statement. Think twice before you make the purchase, it may or may not be worth it.
[via Psychology Today]