"When you see words like "buy now" or "flash deal," while shopping, take caution, say our experts. Retailers use a sense of urgency to push consumers to make quicker shopping decisions, Vines says. They don't want you to think too hard about the purchase. This strategy also relies on shoppers' fear of missing out, Weekes says. It makes people think, "if I don't purchase this right now, I'll never get this deal again.""
"When you see a price tag that displays an item's "original price," say $200, next to the current price, say $75, that's called price anchoring. "It makes people fixate on that [higher] price versus the sale price," Weekes says. It can also make the product appear higher-value, making you want it more. A lot of the time, that "original price" was never the original price or hasn't been that price for a long time, Weekes says."
Retailers use urgency language like "buy now" or "flash deal" to accelerate decisions and trigger fear of missing out, causing impulsive purchases. Pausing before buying helps avoid rushed choices and can reveal better offers, especially at end-of-season sales. Displaying an "original price" next to a sale price acts as price anchoring, making the discounted price seem more attractive even if the higher price was seldom used. Consumers should assess the current price on its own merits, verify historical pricing when possible, compare alternatives, and wait when unsure to avoid manipulated bargains.
Read at www.npr.org
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