Why Did I Just Buy That?

The holidays are just around the corner and soon it will be time to do that all important holiday shopping. With all the sales that retail stores will have it’s more than likely we will give in to impulse shopping for ourselves. Retailers target impulse shopping over the holiday season the most. Black Friday is even considered a pubic holiday with some businesses closed on that day. For those who like to do online shopping marketing companies have created Cyber Monday (The Monday after Thanksgiving) to persuade consumers to shop online.

Why we buy?

This has been a topic of consumer insight that researchers and analyst have talked about and done studies of years. There are a number of factors to explain why we buy the things that we buy. However, it is important to note that emotional reasons often outweigh those of rational ones. Below are some reasons why.

1. Shopping is a skill

We buy what makes us feel good, If you are in a bad or sad mood a little retail therapy could be the answer! Generally enjoyable with a friend or two.

2. FOMO

“Fear of missing out” How many times have you decided not to get your desired purchase item only to regret not buying it when you got home.

3. Social status or appearance 

We don’t buy designer “anything” solely for the quality, we buy it because of the name attached to the designer. Whether you buy a Gucci bag or a BMW car consumers eyes will naturally be drawn to the name.

4. The customer experience

The brand loyalty to a brand and the enjoyment it brings sometimes outweighs logic. For example, For me it is FOREVER 21 whenever I go to the mall I go into that store just to window shop (is what I tell myself) I go into the store with that mindset but I leave with a bag in my hand and it’s not my purse!

5. The idea of saving money

We are a culture of consumption we are hardwired to save. We save shoes, clothes, things we have in our garage from twenty years ago with the idea that it will come back into style in turn saving us money in the long run. Marketers play off of that logic with signs like 25% more or 25% off. How do you know if you really saved more? Did those chips really come with 25% more chips in them? Was that dress really 25% off or was it originally the discounted price that you paid for and the retailer attached a 25% sales tag to make consumers think they got a good deal on that item? I guess we will never know but it gives consumers the illusion that they saved.

Please share your thoughts via the comment section. Thanks for visiting!

Infographic Credit: https://www.signwaves.co.uk/turning-impulse-into-profit