Do you always find yourself grabbing whatever catches your eye whenever you’re inside a supermarket? Does it often affect your mood when you don’t have the chance to buy that shiny product behind that glass window?
It would seem that many people today remain attached to the idea that a certain item, especially if it’s on sale, will not be there for long during our next trip to the store. Although consumers are becoming more self-aware of the things they put on their shopping carts, the retail industry has devised new ways to keep us constantly reaching for our wallets. Some companies use modernretail displaysto help achieve their purpose. However, why do we find it hard to resist the urge to spend well beyond our means?
Financial expert Martin Lewis shed some light to this perennial question. The idea of compulsive shopping has long been tied to societal perceptions, relating ourselves to what others would think of us based on our shopping choices. Hence, the old phrase “shop ‘til you drop” may likewise translate into “you are what you buy.” In an article, Lewis mentioned that people tend to become a kid whenever they shop for items. Despite any age or gender, there are certain tricks that stores use to entice shoppers to spend more.
The impact on personal finances
The advent of new technologies such as the Internet has paved the way for new forms of shopping, including online purchases. This has become a pervasive arrangement today where shoppers could easily buy something they see on numerous websites at a simple click of a button. However, the BBC Lab UK Big Money Test shows that spending money whimsically has a significant effect on how we handle our finances. The results of compulsive shopping has a bigger impact on how we handle our budget to pay the bills, settle basic expenses, etc.
Shopping for all ages
The BBC test also revealed that consumers are under 21 years old are the demographic with the highest probability of being compulsive shoppers. Part of this has to do with their undeveloped psychological control for impulse purchases, according to the test. A good retail design is also another factor. Like a kid in a candy store, certain boutiques have adopted visual elements to keep customers interested and eventually lure them to make a purchase. There are many ways to find out if you are a compulsive shopper, particularly in online shopping. From subscription to promotional emails to emotional outbursts due to sold-out items, these tell-tale signs might just prove that you are hooked in making impromptu purchases
The next time you visit a store, you’ll probably be aware of certain arrangements. Shelves with brightly colored packages line up the storefront, while basic items such as coffee and bread are stocked on the back end. This is all part of a marketing strategy, but it is up to consumers whether or not they will succumb to the temptation of purchasing items that are on their to-buy list.