7 Retail Hacks Exposed – How You Can Avoid Them
Have you ever wondered why you are over budget every time you go grocery shopping? Are you looking to buy something you need online like a pair of boots for your kids, but you end up with a bunch of other items in your cart? We have all been there. Unfortunately, there are many retail hacks that stores use to trick us into spending more money and the Holiday times are certainly no exception.
These secret marketing tricks will have you opening up your wallet and going over budget more than you need or want. Yet, unless you know what the retail hacks are, it is hard to avoid them.
Unfortunately for us, stores spend big bucks on marketing research. Yes, there is an entire psychology behind buying and selling.
Stores also track you and find out what you want to buy before you even know you want to buy it. Think of the last time you were on Facebook and an ad popped up in your feed while you were scrolling. You clicked the ad and bought something. It wasn’t a coincidence that the advert made it into your Facebook feed. Companies spend big money on research to find the right advertising tactics to get you to pull out your wallet.
So what is a consumer to do? Start by researching these marketing tactics and learn how to avoid the retail trap. Knowledge is the key. Learn how to stop spending more money than you intended by avoided the marketing tricks below. Here are seven of the top retail hacks exposed so you can stop wasting your money.
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7 Retail Hacks Exposed:
1. Essentials Item Placement – Ever wondered why the milk and eggs are in the back of the store? You guessed it! You have to walk through the entire store to find what you need. Stores place the essentials in the back to make sure you see the “big-ticket” items you didn’t think you needed until you walked by the display or see the HUGE sale sign.
2. Eye Level Placement – Research shows that if items are placed at eye level, you are more likely to see and buy them. Of course, the most profitable items will be placed at this level because stores want you to spend more. Also, brands can pay to have their items placed at an eye-level area. Avoid this clever trick. Stick to your list and price compare. Search for the best deal on a product you were already going to buy. Check the unit price before buying a pricier name-brand item that may have paid for the eye-level placement.
3. Sales That Aren’t Really Sales – Did you know many stores hike their prices up and then advertise a sale such as 50% of the entire store, which I saw at Old Navy this weekend. If you knew how much it actually cost to make the “sale” product and how much they charge to make a profit, you would be amazed. Many items are marked WAY up and then put “on sale” to make the consumer think they are getting a great deal. Stores also test price points to find the best pricing for items. Try researching the base price of a product. Buy in bulk when applicable, because you usually get a better price per unit. However, clothing can be tricky. Shop around and see what other stores are charging to make sure you do not waste your money.
4. Appeal to the Kids – Not only are companies trying to advertise to you, but they are also trying to persuade your kid into asking you for toys, clothing, or food. Also, commercials on kid’s channels are very sneaky with hidden messages. Most toy commercials for young kids show the kid playing with their mother and father. Subconsciously the commercial is tricking the kid into thinking if they get that toy, mom and dad will play with them more. Of course, they want it. Have you ever seen a commercial with a sad kid playing with a toy by himself? Me either!
5. Scarcity and the Sale Cycle – Many online sales will continue to track and email you with a countdown to the end of the sale or say their sale is only for a limited time. Now there are a few companies that stick to this and do not open up sales for a class or membership because they only want a certain amount of students. However, most of these “limited time” sales will end and 4-6 weeks later, will show up again. This scares the consumer into buying it before it is too late. Many stores run a sale cycle so if you are not ready to buy or don’t have the money to buy the sale item, wait six to eight weeks and there will be another sale. This is the time frame most stores use.
6. Loyalty Cards – Loyalty cards help you save money, but they also make it more likely that you will return to that specific store. Although earning points at certain stores may sound appealing, this is really just a trick to get you to keep coming back. I have to admit, I like my rewards and tend to save them for something big, but it is best to be wise about rewards if you are trying to be savvy. Shop the best price instead of where you will get the most points.
7. Holiday Sales – Have you ever noticed that every major Holiday seems to call for a sale at your favorite stores? Black Friday is no exception. Don’t fall for the hype. If you were planning on buying something and it is on sale that day, then I say go for it. But don’t be tricked into buying a bunch of stuff you don’t need and did not budget for, just because there is a sale.
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Retail Hacks Exposed Conclusion:
Don’t let yourself be tricked into buying something and stop wasting your money. Use your retail hacks knowledge as a way to avoid being tricked into spending more than your budget will allow.
Although I like a good sale and consider myself a bargain shopper, I also have good self-control and can wait to buy something until I’m ready or have the money. Don”t be tricked into buying something just because it is on sale. You are better off waiting until you have the money than putting the item on a credit card.
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