People are strongly emotionally driven when shopping
Anyone who goes to a store or browses online shops on Black Friday is very likely to make a purchase. That’s because people often react irrationally when they see a bargain. But why do we fall for the stores’ tricks? Two experts provide the answer.
The tablet for an unbeatable 89.90 francs, the jacket at half price or the last available rowing machine for the living room with a 20 percent discount. When we see offers like these, our minds go blank. We often only realize that the tablet is not compatible with our cell phone's operating system, that we already have ten jackets in our wardrobe and that we never do any sport.
Red signs with the word "discount" or crossed-out prices trigger a kind of hunting instinct in us. "We have the feeling of 'winning' something and being able to seize an opportunity that will 'never come again'," explains Professor Anna Knutti, who conducts research into marketing and consumer behavior at Bern University of Applied Sciences.
Time pressure and scarcity
The stores take advantage of this. Black Friday, which only takes place once a year, opens up a narrow window of opportunity. Even if it is extended to a whole week - known as Black Week. "It is communicated that the offers are only available then. This creates a certain urgency that you should definitely grab them," says Knutti.
In addition to the time limit, suppliers also create artificial scarcity by limiting the supply. "They like to display how many products of the desired item are still in stock. This is also an effective way of creating time pressure and suggesting scarcity so that we make a quick decision," says Knutti.
Research has also shown that people are less likely to postpone purchases or reconsider whether they actually need something when they are under time pressure, according to the expert.
Shopping behavior begins in childhood
Neuromarketing expert Philipp Zutt explains this mechanism by saying that our brain has a so-called loss aversion, meaning that we want to avoid losses as much as possible. In other words, if something is no longer available at the same low price tomorrow, we want it today.
So is it not our fault that we become bargain hunters on Black Friday? According to Zutt, only to a limited extent: "We are strongly emotion-driven. Around 80 percent of every decision we make is emotional." And we don't differentiate between different goods. Our decisions are just as emotionally driven when it comes to a luxury food such as chocolate as they are when buying a supposedly very rational house.
However, according to Zutt, not everyone is equally susceptible to the tricks of the trade. "It also depends on whether we learned to wait for things when we were children," says Zutt.
As an example, he cites the famous marshmallow experiment, a test of impulse control in children. A group of four to six-year-olds were given a marshmallow with the promise that they would get a second marshmallow if they didn't touch the first one for 20 minutes. Some children held out, while others ate the sweet treat as soon as the time limit began.
Another factor is the habit of being attracted by such offers. Because some people simply won't get involved in the discount battle.
Making and monitoring lists
Even if a lot of things are controlled on an emotional level, Anna Knutti says you can protect yourself from making the wrong purchases. For example, you can make lists in advance of what you really need and set yourself a budget.
"It's also worth getting to grips with buying psychology. If you know the patterns, you can deal with them better and defend yourself effectively against them," says the expert. After all, adults are responsible people and should shop wisely. (Tabea von Ow/AWP)
