Saturday, November 20, 2010

Holiday Deal Traps

This holiday season, online and offline retailers will place various traps to lure consumers to open up their wallets. Do not fall into the following traps:

1. Buy anything today, save 50% next week on any purchase
Most "smart" consumer will think, ok, I will buy just one today, and buy 5 items next week to get 50% discount. Well, you already fell into the trap. The reason the 50% discount next week is the retailers will have new items become available next week at full price, and they are waiting for trapped people like you.

2. Limit 2 per person
Ok, if I buy one, I will miss the boat, because it's obvious the store doesn't want people to buy more than one. Most people will think so and naturally fall into the trap. In fact, research has shown that with this trick in place, some items that only a crazy person will buy more than one will see a large number of people buy 2.

3. Sale will end by 6pm tonight
Yes, buy while you are in the trap shopping.

4. Sale with 21% discount
Wow, it's more than 20% discount, as most consumers are fixed with integers in their mind, they will feel they are getting a great deal with a 21% discount.

5. Save $300 if you buy now
Some retailers will highlight the huge amount of savings, so consumers will forget how much it will actually cost (i.e. $999).

6. Buy $25 and get a free gift
Who doesn't like a gift, and it's FREE. If your originally planned purchase won't exceed $25, don't raise it just to get that free gift.

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