The article highlights the psychology behind consumer behavior during sales events, particularly the use of FOMO (Fear of Missing Out) to drive impulse purchases. Experts emphasize understanding how sales trigger pleasurable brain responses and reflect on the importance of conscious consumption. Techniques such as pausing before purchasing help mitigate impulsive buying and reduce regret. With the upcoming end-of-financial-year sales, awareness of these dynamics can help consumers navigate sales intelligently, avoiding clutter and guilt from unnecessary purchases.
"Temporary sales events are aimed at leveraging FOMO, says Jason Pallant, a senior lecturer in marketing at RMIT University. The idea is to make consumers feel like they will miss out on a great bargain if they don't buy something right away."
"When we see a price tag that we perceive as a good deal, the part of our brains that deals with pleasure is activated... when there is a time limit on the availability of the discounted price, it triggers heightened adrenaline."
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