Sometimes we do stupid things.
We make impulsive decisions and rely on our gut
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How many times have you thought, “What the hell was I thinking?”
What you have done is not logical. In fact, you have used to good old SWOT analysis diagram, you wouldn’t have even thought about that stupid thing you did in the first place.
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Anyone one of us could be an impulsive shopper.
You could be having a bad day. Then find yourself at the mall, doing some retail therapy, and buying tons of things you don’t need. Perhaps even buy one item; however, that one item is so damn expensive.
You are always one moment away from making yet another impulsive shopper decision.
One of the key factors that influences you, as a consumer, to buy is the endowment effect.
The endowment effect basically says, “We place greater value on items because we own them.”
Adam Ferrier, The Advertising Effect: How to Change Behaviour
Before a consumer grabs her wallet to pull out her credit card, she needs to trust you. She thinks…
Are you credible? Will I regret this?
There are multiple ways to build trust, and showcase your credibility. Today, I will be discussing two techniques, powered by consumer behavior studies.
So, how can you build trust?
Demonstrate that you can fulfill her need.
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Impulse buying can be triggered by many things, but one of the most prominent reasons is to feel good, as in retail therapy. On the flip side though, when you don’t have the money and still make the purchase let’s say on credit, you end up feeling worse, you feel the “buyer’s remorse”, regretting what you just bought - later when you go home.
Impulse buying has left so many people in debt, making them buy things they don’t need, and sometimes not use it altogether. With today’s buying on credit availability, if you are not careful, impulse buying could lead to serious repercussions of not only debt but also your psychological well-being.
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First, let’s get to know each other a bit, do you like sushi?
If you don’t, carry on, you might still think this is interesting.
And if you do, then I bet you are a bit like me and think sushi is so damn expensive. It’s also not the first option that pop-up in your mind when you are in the starving state of hunger. Is it?
It’s an expensive yet delightful dining experience. You indulge.
But, why?
The question that just popped into my head, is whether you indulge because sushi is really that delicious, or because it’s expensive.
According to a study done by researchers at Standford University, …
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Women love Bath & Body works.
Whenever I visit one of my friends who also happen to be a girl, I find Bath and Body works soup, lotions, candles, body mist, etc. all over the place. Men, on the other hand, like Dettol for some reason. They want to be germ-free I guess. Us, women, we want to experience that sweet scent, the tenderness that comes with it and the relaxation that gets diffused when lighting a strongly scented smell at the end of a long day.
Don’t get me wrong. I am in love with their products too.
Just pass by the mall and you will find women buying tons of Bath & Body works products. I am one of them.
I was extremely delighted when they started selling those products online.
Do you know what I loved the most about the online shop?
I knew I could buy tons and tons of products and I wouldn’t have to carry them around in the mall. I mean, if you buy candles, lotions, etc., they things really carry some weight. I like to think of my self as strong, but let’s just keep it to mentally strong.
The downside of online shopping though is that I won’t be able to smell every single scent and decide what to buy. Still, the good news is… I already know what I love.
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There is no doubt, most women love Bath & Body works… But, but, where is the but?
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In my hopeful attempt to declutter my too many stuff, I found many clothes I didn’t love - and for that, I feel blessed I can let them go.
I even discovered some clothes that I haven’t worn for a while, they were fairly new and I absolutely loved them. It was like I just came back from a shopping trip - that was nice.
There were also some clothing items that I wasn’t wearing not because I didn’t love them, or they didn’t fit, but rather because they needed some repairing. Something like fixing the zipper.
Last Friday, I gathered my energy to go to a tailor recommended by a friend…
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The moment you start getting your first paycheck and setting up your bank account, you find yourself bombarded with credit card salesmen trying to make you sign-up for one.
For the most part, they are free, so you say, “why not?”
But then again, you find yourself approached by some other banks who want you to sign-up for their credit cards as well.
“With our credit card, you get miles, you get free access to airport lounges, you get special discounts and offers, you get to pay now for specific merchants and install the payment in 6 months with 0% interest rate, you get, you get… and then you get some more.”
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Just to be clear, I love ice-cream, chocolate and honey.
– Ice-cream makes a good day beautiful
– Chocolate is practically an addiction to me
– … And I use honey either for my avocado smoothie or my morning oatmeal
That doesn’t negate the fact that I have bought those items when I didn’t need them at the time.
Sometimes it’s just about maintaining a healthy diet and staying slim.
In an earlier blog post when I started the #savingmode journey, I spoke about how I bought ice-cream even though I didn’t want to. Well, I wanted the red-velvet ice-cream, but it wasn’t there. I just bought ice-cream because I was given so many samples to try. It wasn’t a calorie justified decision.
I didn’t know why though I bought the ice-cream anyway.
But now I do.
I also didn’t know why I bought the peanut milk chocolate at the supermarket, even though I promised myself to only get dark chocolate to stay, well, “healthy”.
I didn’t know why did I buy two jars of honey while I was on a tour in Georgia. I mean I am not having any home-made breakfast while I am on vacation.
Why did I make those purchases even though at the time I didn’t really want to?
I just found out.
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It could have been a coincidence, but according to Jooyun Hong, the author of the book, “The Having”, and the guru that guided her through her journey, Suh Yoon Lee, there is no such thing as a coincidence.
Last Friday, practically, 2 days ago, I coincidentally met a friend that I haven’t seen or caught up with for a long time. We stopped for a short yet inspiring conversation and he recommended me this book, “The Having”. He actually said he finished this book at least 5 times! I mean the book was just published in February 2019.
I literally finished listening to it on audible in exactly 2 days, Saturday and today Sunday. With every chance that I can get to listen to it, I would take it, whether if it was getting ready in the morning, at the gym, in my long dreadful commute or even when painting my nails. I was hooked.
If didn’t have to go to work, I would have listened to it all night long.
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