Have you ever had the feeling that you are being fooled into purchasing more? Well, you're not the only one. According to a recent survey, only 5% of people have felt guilty after a shopping session. It means that most of us, at some point in our lives, have regretted a purchase.
Consumers are not necessarily to blame for impulse shopping. After all, we are constantly bombarded with ads and marketing tactics specifically designed to spend more money on us.
So we thought we'd give you a table with a series of psychological tactics to find out how we are fooled into buying more. Here are some that will make you think:
They lowered the price by one penny. Therefore, you will always be more motivated to buy a product with 4.99 euros instead of 5 euros.
The point delimiting the order of thousands is removed. So a price of 1699 euros is much more attractive than one of 1,699 euros, right?
The labyrinth store's design is designed so that the consumer feels disoriented and reaches the shelves with thousands of products. This way, he will buy other products that are not on the shopping list because they are sold right in front of him.
Research shows that if the seller is a woman and touches you lightly on the shoulder, this gesture will give you the confidence to buy it. Likewise, if the seller, male or female, somehow imitates your gestures, you will buy more.
Words are often used to make an imaginary connection at a lower price. For example, a car described as cheap to maintain will be bought instead of one described as high performance.
A print advertisement that presents the equivalence between a product and others consumed daily will help you make a faster purchase decision. For example, if you are presented with a TV as the equivalent of a coffee every day for a year, the calculation will give you an advantage.
How many times have you seen a label pasted over another label with the original price, on which all the faces can be seen? It does not matter the reduced amount, but the fact that the product is reduced and thus you will pay 4.97 euros for a product whose original price was 5 euros, feeling that you are winning.
The trick of visual contrast between the original and the reduced price is often used. For example, if both are written in black, you will not be as attracted as if the reduced price is written in red.
The false sense of urgency offered by certain advertisements is invaluable to the store's pocket. The advertisement: minimal stock, limited offer, only three free seats on the plane, or 500 people now have this product in your cart, will urge you to buy impulsively.
Uber method. It is a very effective invention. Until then, people were transfigured by the sight of how the money was collected by the device, in the case of a taxi ride. With Uber, even if it's more expensive, you know from the beginning how much the ride costs.
Some restaurants do not include currency on the menu. A breaded cheese has 15, not 15 euros in its favour, which has proven to be much more efficient for the local budget because people are willing to spend more.
Some stores divide the discount over several days for a single product. If they want to reduce the price by 60%, rather than doing it on one day, they prefer to offer a 30% discount on the first day, 20% on the second day and 10% on the third day which is much more efficient. Why? People are disappointed when they miss a discount and prefer it to be smaller, only to buy the discounted product.
Market research has shown that red labels are lovely to men. They also buy more of a product that has been warned on the shelf or in commercials with red fonts.
Some ads focus on experience and time rather than price. When advertising a video game console, a message like "you're going to have an incredible time" will be much more appealing than "a cheap product." People are frequently motivated by a sense of nostalgia.
When a product is expensive, an explanation thrown into the manufacturing process is essential. No one will complain that he paid a lot for a 100% organic coffee or a handmade wooden spoon.
Imagine four categories of popcorn bags. The small one costs 4 euros, the medium one costs 8 euros, and the big one costs 8.5 euros. Which do you think will be sold? The big one. The middle one was put there to help sell the big bag.
Another strategy is to place the commodities in the back of the store. For example, if you want to buy milk, eggs or bread, you have to go through many shelves first, and you will buy extra.
Another strategy is given by the ambient music and the beautiful colours at the entrance to the store. Everyone comes in and shops at a store that makes them happy.
It seems familiar to you to see restaurants where most prices are at the same level and only 2-3 dishes stand out in terms of cost. Nobody buys them, but there are no bathrooms. They are listed there just so you can make a comparison, and the price you pay for the prepared order seems reasonable compared to the expensive one.
Probably the best tactic is to promote: 1 + 1 for free. Instead of spending a 50% discount on a product, if you offer the same product for free when you buy one, you will have more to gain. Not at a price, but the volume of sales.
As consumers become aware of specific marketing tactics, retailers are forced to change their game to remain effective.
A relatively recent phenomenon is influencer marketing, when brands associates with vloggers or influencers to support a product. And these partnerships tend to work - a recent survey showed that 40% of people bought something based on an influencer's recommendation.
But how long will influencer marketing remain effective - or any of these tactics? Some of the more subtle pricing tactics may stay relevant for longer, but all of these tricks are unlikely to stand the test of time.