03 Apr Five Retail Tricks that Have you Spending More
Ever visit a store for a single item and walk out an hour later with a cart overflowing with items? There’s a reason this occurs so often. Stores have implemented retail tricks to make the consumer spend more money than they originally planned. These tips from Bank of the Lowcountry can help you stick to your budget the next time you hit the aisles.
Consumer Rewards Programs
Grocery stores, gas stations and clothing stores all use a reward program to entice consumers. You are given incentives to return to that specific retail location for future purchases. In the end, you end up spending more money than the reward you receive is worth.
Bulk Bargains
Stores will flash BOGO deals in your face on almost every isle to make you want to spend more money during your visit. Offering a products as a bulk bargain makes you think you are getting a deal, while the company gets more of your money.
Free Samples
The free sips of coffee and samples of baked goods are not there to brighten your day. Companies use free samples to give you taste of a product they are trying to sell that day. By giving you a small piece of a product, you are thinking about buying something you originally had no intention of spending money on.
Regular Rearrangement
Chances are you have a store you visit relatively often .You probably know where all the products you need are located. This changes when stores rearrange product locations to get you moving around the store more. You are seeing more products on your journey to find the one item you came in the store, increasing your chances of spending more money.
Limited Time Offers
Companies will dangle limited time sales to drive up revenue on certain products. By offering a short window sale on products you’ve been eyeing, you are more likely to spend more money on the product due to the discounted price. Companies turn over a greater profit on the items in return.
While it may seem like you are saving money with these tips, you usually end up spending more. Keep these tips in line the next time you go shopping for groceries, clothes or gas. Check out our blogs for more tips to help you be a savvy shopper.
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