Impulse buying has always been one of the biggest enemies for the saving we try to make every month. The sellers use every trick in the book to make sure the customers add something more in their cart at the end. Your impulse is truly the one to blame here, that ends up losing to the strong marketing tactics. However, there are specific ways you can control this spending habit for stuff that is quite useless at times.
How are Customers forced into Impulse Buying?
Before getting into control of the impulse, you must understand how these things work. Impulse buying is the unplanned purchase at the spur of the moment based on feelings and emotions. Here are the most common tactics used by marketers to get you to buy products you never intended.
- Walking Path or Store Layout:
The stores are designed in such a manner that you walk past products that may tempt you the most. These products are generally high in demand and placed near the check out counters.
- Enhanced Ambience:
The little investment shops make on music systems and fragrance is to provide a happy and relaxed environment. Perfect for making the customer get into a buying mood.
- Appealing Offers:
The offers such as “Buy one get one Free” comes with an obvious intent of tempting the customers. They make money out of the false promise of free stuff while they add the additional cost in the purchase amount. Not so much of loot now, isn’t it?
- Money-Back Guarantee:
The items we buy on the money-back offers are not returned in the majority of the cases. Courtesy of our laziness, we prefer not to go through the whole process.
- Placed Urgency on the Product:
The fear of losing out on a great deal is used widely to trigger impulse buying among the masses. Remember the times you heard “Only a few left in stock” and ended up buying the product.
Triggers Because of Your Traits
While these marketing tricks count the majority of the impulse buying, your traits are certainly of no help. Following are the factors that drive impulse buying on a personal level.
- Age: Younger people are more prone to impulse buying than the elderly.
- Mood: When you are happy, bored, intoxicated, or hungry, there is a perfect chance of making unplanned purchases.
- Social Status: The feeling of being part of something used by others often make you buy with emotions instead of logic.
- Fulfilment: The wrong idea of want and need, combined with the instant fulfilment, is a catalyst for impulse buying.
- Unknown Habits: The candy bar placed at counters are part of impulse buying that you make without even the knowledge of it.
Controlling the Impulse Buying
While controlling the temptation can be challenging, you can certainly reduce it largely. Follow these tips next time you go out shopping offline or online.
- Create a Waiting List: This may seem extremely difficult to follow, but it is the best way to reduce impulse buying. You can decide the waiting time from a few days to a month.
- Make a List: The old-fashioned way of listing items before you go out for shopping helps make only the necessary purchase. However, it could get tough sticking to the list.
- Log Out of Online Stores: Logging out from online stores make the process a little more time consuming and difficult. With more efforts to make, impulse buying is sure to take a hit.
- Use Plug-Ins on Browser: There are many cool plug-ins or extensions available for popular browsers that help users control the spending. These plug-ins change the buy now buttons to wait for buttons that give time to rethink the decision.
- Use Cash or Debit Card: The next time you go to a local store, carry cash or debit cards instead of credit cards. You may get buried under a pile of debts with the purchase from credit cards. You can take loans for bad credit with no guarantor and no fees from the direct lender to pay off these debts with lower monthly instalments.
- Reduce Time on Social Media: The social media platforms are full of targeted ads for the users to trap them with unplanned buying. Also, you will get less exposed to the other users showing off their extravagant purchases.
- Share Your Budget: It is always a good idea to share your spending with your partner. This will make you think twice before making an unwise decision on buying something.
- Spend Less Time in Shopping Areas: You must limit your visit to the shopping areas. Try to make them whenever it seems necessary.
- Return Stuff:The return process should always be used if you regret any purchase. You must get over the laziness or embarrassment to get your hard-earned money back.
- Find the Motivation: Be honest to yourself with the emotions that led you to buy the unnecessary items from the store. Use them to motivate yourself the next time you feel tempted byproducts on the shelf.
These tips might save you from making a disastrous financial decision. It is because impulse buying often leads you to a pile of debt that takes forever to be repaid.