5 Ways Retailers Manipulate Holiday Shoppers and What You Can Do To Protect Your Wallet
Did you really want to buy that pecan log last holiday season? How about that extra reindeer sweater?
Probably not.
Studies show that retailers use several subtle manipulation tactics to persuade you to part with the greenbacks in your wallet. With retail sales expecting to climb this year over last year, those manipulation tactics will be in full force. The National Retail Federation forecasts holiday sales to increase 4.1 percent this year, higher than last year’s forecasted 3.1 percent.
So what can you do? How do you protect yourself from those sneaky sales tactics? Well knowing is half the battle. Here are 5 ways retailers manipulate you and what you can do to protect your wallet this holiday shopping season.
1) They appeal to your sense of smell
Eric Spangenberg, a pioneer in the field and dean of the Washington State University College of Business along with colleagues at WSU found that simple scent boosted sales effectively. The researchers noticed that one group of about 100 people on average spent 20 percent more money, buying more items. Another study found that certain scents can reduce the level of anxiety experienced by consumers thereby influencing them to buy more.
2) They appeal to your sense of sight
According to a recent study by University of Minnesota researcher Joan Meyers–Levy, the display fixture that holds an item influences how you think about the product. “Retailers cannot directly control shoppers’ perceptions of their goods, but they can anticipate or manipulate the kind of cognition self-view their target consumer uses,” said Meyers-Levy. Try ignoring the display fixture and focus on the item alone instead. A mug is a mug is a mug whether it is on a glass shelf or a wooden shelf.
3) They appeal to your sense of sound
The music playing in your favorite store is likely the music you listen to on a regular basis. Stores geared toward adolescents will often play popular hits or indie favorites that teens like. Department stores are no different, in fact, lately they have been segmenting the clothing sections with music. Walk from the women’s department into the teens department. It is likely that there is an entirely different sound track. Listening to your favorite music sparks a positive emotional feeling which in turn influences purchasing habits.
4) They appeal to your sense of touch
Don’t touch that sweater! Authors Joann Peck of the University of Wisconsin-Madison and Suzanne B. Shu of UCLA found that “merely touching an object increases the feelings of ownership a person has for the object. This, in turn, results in a person being willing to pay more for most objects that they touch versus objects that they cannot touch.” When you touch an item in the store, you are more likely to buy it. Instead, look but don’t touch.
5) They appeal to your sense of taste
This one is especially difficult during the holidays. Free samples, testers, and recipe suggestions all vie for your attention. After a free sample, you are more likely to make a purchase. The ‘Rule of Reciprocity’ is one that marketers use all of the time. On a subconscious level, you are more likely to give back when someone gives to you.
How do you protect yourself? Now that you know these retail manipulation strategies, you are less likely to fall prey. However, if you mindlessly aim, or allow your thoughts to wander, it is likely that your subconscious will take over.
If that happens, you’ll find yourself with another useless set of sweaters or worse, a fruit cake this holiday season. Best practice? Keep your shopping limited to items on your list.
5 Ways Retailers Manipulate Holiday Shoppers and What You Can Do To Protect Your Wallet is a post from: Young Finances
