5 Ways Retailers Influence Our Spending
Retailers have one goal: to get you to spend more.
And they have lots of tricks to make that happen.
Learn how to spot these marketing tactics and make smarter decisions when shopping.
#1: BOGO – Buy One Get One free sounds like a great deal – until you realize you don’t need two of these products. In fact, you’re probably not even sure you need one!
#2: Anchoring – The $55 Deluxe Rib Steak doesn’t look all that expensive when it’s listed right under the $75 Chef’s Steak Special.
#3: Urgency – Buy now! Quick – before it’s sold out! (so says the retailer who has thousands more in stock).
#4: Decoy pricing – “Do you want to upgrade that $4 medium to a $5 large? It’s practically the same price!”
#5: Day-one Markdowns – When the manufacturer’s price is $199, but the retailer’s starting price is $150. Something’s fishy if it’s marked down on day one.