10 Retail Gross sales Methods That Are Making You Overspend
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Remember, every time you walk into the mall, grocery store, or major retailer, you are against them.
Retailers, marketers, sales professionals, and CEOs are determined to make you buy more than you planned on. Additionally, retailers have an arsenal of sales tactics that might seem silly but actually serve as heavy duty artillery when it comes to convincing you to part with your money.
Here are 10 particularly cagey tricks businesses can use.
1. Coupon savings
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I love coupons so I can’t advise you never to use them. However, coupons have a sneaky way of buying things that you would never buy at full price or even at retail price.
Bottom line: with coupons, you feel like you’re getting a deal even when you aren’t. Double check that the price after the coupon is actually a bargain.
If you’re looking for a break on a specific item, check out websites like Coupons.com. Again, be clear about whether the deal with the voucher is really a bargain and what you will really use.
2. Reward programs and loyalty cards
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With rewards programs, retailers ensure that you keep coming back to their business even though you have other options.
Maybe there is better sale at Kohl’s, but they have a Shop Your Way rewards card so you don’t even bother checking out Kohl’s. Instead, you go straight to Sears.
This works the same way if you have a loyalty card for a gas station, grocery store, coffee shop or hotel chain. You finish the comparison shopping and just go to the store that offers the rewards. This is good for them, but it could be expensive for you.
3. Free shipping offers
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Shopping online is convenient, but paying for shipping is a real burden. In addition, it can be downright expensive in some stores.
Web retailers know that many of us have an aversion to paying shipping costs, so they often offer free shipping deals. These can be ticked: you have to spend 30, 50, 100 or some other amount to get free shipping.
How many people have spent valuable time looking for additional items to add to their order in order to meet the amount required for free shipping? I’m going to raise my hand and admit that I ungodly spent a lot of time looking for a $ 15 item (which I really didn’t need) to complement my $ 35 purchase to get free shipping. In hindsight, I should have stayed with my $ 35 purchase, paid the $ 5 for shipping, and got a $ 10 head start.
4. Multiple purchase prices
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My grocery store loves having a $ 10 for $ 10 promotion where not only is the products for sale costing a dollar, but you get the 11th item for free. There are often at least a dozen things on sale, and you can mix and match! How cool is that
It’s incredibly cool for the grocery store when we top up 11 things that we don’t need. It’s even better if they regularly sell for $ 1.09 anyway.
I’m not saying that multiple purchase prices are always bad. It’s just that when we sell four for $ five, we tend to buy four items, even if we only need one.
5. BOGO, B1G2 and B2G1 deals
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BOGOs – Buy-One-Get-One-Free-Sales – work similarly to multiple purchase prices. They lure you into buying more than you normally would.
If you’re already planning one purchase and a second is free, by all means take the giveaway. However, if you suddenly find that buying unneeded new shoes is warranted based on a BOGO ad, marketers can pat themselves on the back for a job well done.
B1G2 and B2G1 deals each buy one product and buy two for free, or buy two and get one for free. There is also another common variant where one thing is bought and the second is offered at half price.
6. Bundled purchases
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Another stupid way retailers get us to buy more is by bundling purchases. For example, as part of a special sales package, you may receive a printer and office software, as well as a laptop. If you need a printer and software it might be cheaper than buying the three separately.
However, you may have a good printer at home, and you may only plan to use the laptop for Facebook and World of Warcraft. I might be wrong, but I don’t think you would need Microsoft Excel for any of these things.
Why wouldn’t you want to buy $ 1,200 worth of computing equipment for just $ 900? Because if all you need is a $ 700 laptop, you are $ 200 poorer for no good reason.
7. Sales Events
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The fact that a business says a sale is phenomenal doesn’t necessarily mean that it is a great deal. In fact, you could go to a store that advertised “up to 70% off” sales prices and find anything but a lonely shelf that is only 20% off.
It is not a false advertisement; The ad clearly contains the qualifier “as much as”.
Remain skeptical of sales claims. Don’t get caught up in the hype of a supposedly one-time deal. Trust me, there will always be another deal.
8. Psychological pricing
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You would now think we would be smart enough not to get scammed when we see number 9 at the end of a prize. And yet, we still think that a $ 19.99 price tag is a better deal than a $ 20 item.
Known as “Charm Pricing,” ending sales labels with a “9” is just one way businesses can use psychological pricing to their advantage. You can also tempt you to spend more by dropping the dollar sign, setting a per-customer sales limit, or using a small font that draws customers’ attention away from the price, says ChangingMinds, a website that convinces.
Who would have thought we could be so easily manipulated by a price tag?
9. Sell everything
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Whenever you are asked whether you want an extra shot of espresso with your coffee or a bucket instead of a bag of popcorn in the theater, you are “sold”.
In fact, the language for this technique is fine-tuned to maximize your chances of saying yes. When I was working as a test shopper, a chain asked their employees not to ask, “Is there anything else you want?” Instead, they were told to ask, “What else do you want?” to create expectation that you will buy more.
10. Point of sale add-ons
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The last seemingly silly sales tactic that is draining our wallets is the point of sale add-on. These are the gum, candy and magazine displays of the registry and the clerk asking if we want to save 25% by opening a business credit card.
At one gas station in my town, the vendors are pretty shameless when it comes to promoting the monthly candy store, letting customers know that they are competing for whoever can sell the most. This tidbit is followed by a call to help the worker with a purchase.
The only things missing are a slight whimper and big doggie eyes. I’m sure some heartless people can say no to this request for help, but it brings me up every time.
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