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The Ways Stores Trick You Into Spending More Money Over The Holidays
It’s only a matter of weeks – maybe even days – before folks will be heading out to stores to complete their holiday shopping list. And while a lot of people will set budgets so as not to spend too much, stores are hoping they can get you to forget about them. In fact, many stores have some tricks up their sleeve to get you to dip into your wallet more than you’d like so you may want to beware or else you’ll wind up broke for Christmas.
Retailer tricks include:
- Relaxing music – There’s a good reason why you rarely hear death metal playing over the audio systems in stores. Research suggests folks are more likely to spend money if they hear relaxing music, and if they’re already planning to spend they’ll buy even more than expected.
- Warming scents – Holiday-specific scents can also motivate people to dip into their wallets, which is why stores sometimes use candles of scent diffusers to set the right olfactory mood. And those scents are particularly effective if they compliment the music.
- Bulk pricing – Stores easily get people to buy more by suggesting a cheaper price only if you buy multiple items, like say two-for-one deals, but the truth is you can often get the deal price even if you buy only one of the item.
- The number nine – Believe it or not, offering something up for say $29.99 instead of $30 has been shown to get people to spend more. In fact, a study showed that using what they call “charm prices” instead of rounding up increases sales by 24%.
- More profitable items are at eye level – The items that are going to give retailers the biggest profit are usually placed in spots easier to see by customers, where as things that are good deals for customers are usually at the bottom or top of aisles, and that goes for kids items as well.
- They increase prices before the holidays – Everyone loves to use those coupons they get from stores while shopping over the holidays. The reality? The stores have likely increased the prices first so you think you’re getting a deal, but you’re not.
- Gift sets – While buying an already packaged gift set, like with lotions or perfumes, may seem like a great deal, especially if it’s already wrapped in a nice package, but the truth is there’s a good chance that package would probably cost you less if you bought the items separately. Do yourself a favor – CHECK!
- They hide clearance items – Stores don’t make it easy for folks who want to find the really good bargains. They usually hide the clearance section all the way in the back of the store so you have to walk through lots of other departments to find it. And then once you do, it’s usually in such shambles that it likely turns off all but the expert bargain shoppers.
Source: CBS News
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