Retailers know consumers. They have spent countless time and resources researching to know how you shop. They use this data to get you to buy more!
Lucky for you, I’ve figured out these secrets (and don’t fall for them). Make sure you read them before you shop so you don’t fall victim to spending more than you intended.
1. PURCHASE LIMITS
Many retailers will place limits on products. Many times, these products are not on sale, they just add limit wording to the signage. When people see this, they think that they are putting a limit on the purchase because it must be a hot product. If this is a hot product, then I should buy it so that I don’t miss out!
Money saving tip: Only purchase the items you have on your list. You should also check the original price of the item before you buy to make sure that it really is on sale and a good deal and not just another marketing scheme to get you to spend money.
2. SHOP THE UPPER AND LOWER SHELVES
The most expensive products are placed on the store shelves which are at eye level. Most people are in a hurry and will purchase only what is right in front of them. If you look up and down, you can find store brands and other brands, which are less expensive.
Money saving tip: Scan up and down all shelving to ensure you are getting the best price.
3. TWO-FOR and BOGO DEALS
These often seem like a really good deal, and they can be. When retailers say that you can get something for free, you may purchase an item you originally did not plan on buying. You might also buy additional items that you did not need, just in an attempt to save money. There are times when these offers can save you money, but most of the time, they are an attempt to just get you to buy more.
Money saving tip: Know the stores regular prices. You can go find the item on the shelf and look beneath the sales sticker to find the original price. You can then determine if the the sale is a good one or not. It is usually not a good idea to buy more of something you really did not need, just to save a buck.
4. WHEN SIZE MATTERS
If you are looking for items in your grocery store or even towels at your favorite department store, you need to check the size and price. For example, you may see ketchup on sale 64 oz for $3.25, which appears to be a good deal. Take a look at this per unit. At this price, you are paying $0.051 per ounce. If you look at the 40 oz bottle priced at $1.99, you will see you are paying $0.0498 per ounce. There is not too much difference per ounce here, but it all adds up and you get more for your money if you purchase a 40 oz bottle instead.
The same goes for towels. Many larger stores sell 36×60 towels. You might see a good deal on them in your favorite big box store, but is the size may be smaller. So, you might pay less, but you will end up with less.
Money saving tip: Know the prices in the other stores for your favorite items. Compare sizes and quantity before you buy to ensure you are getting the best possible deal.
5. DON’T FALL FOR THE FANCY DISPLAY
Some stores hire experts to create magical displays. Sometimes, the display is so unique or artful that it makes you feel you need to have the product they are selling. They may even add in images of good looking men, women and children wearing them. These people look so happy in these clothes. When people see these images, they think that they too will be happy and look good if they buy the item.
Money saving tip: Things won’t make you happy. Spending too much money on things will make you broke – which will actually make you more unhappy.
6. AVOID THE END CAPS
Just because an item is displayed at the end of an aisle does not mean that it is a good deal. Sometimes stores will simply relocate items within the store to try to capture the buyer’s eye. When people see items on display, they tend to assume the item is on sale. Sometimes it is, but there are times when it is not.
Money saving tip: When you see something on an end of aisle (end-cap) display, take a moment to find it’s original location in the store and check the regular price. Sometimes it is not on sale at all.
7. VEER LEFT – NOT RIGHT
Most Americans are right handed. As a result they tend to go to the right side of the store when they enter. This is where retailers will place additional displays to try to lure you into spending.
Money saving tip: Turn on your blinders and avoid falling for these traps by sticking to the items on your list.
8. CASH ONLY
How many times do you see these displays where you can save 15% of you open a charge account. Even if you don’t open a new account, if you use plastic, you tend to spend more. Retailers would much rather you pay for your purchases with debit or credit cards because it means you usually are spending more.
They also know that most people will not pay off the balance right away, which will allow interest to accrue, which in turn makes them money.
Money saving tip: Never sign up for any store offers just to save money — unless you are able to ensure you will be able to pay it off right away. In fact, if you sign up, you should be able to turn around immediately and pay off the balance on the card without having to wait for the statement to arrive. When you shop, stick with cash because you can see how much you have to spend right there and can’t overspend.
9. CLEARANCE TAKES TIME
How often do you notice that the clearance section in the back of a store is an absolutely disaster? If it is disorganized, most people will pass on shopping and will move towards the other items which are easier to look at.
Money saving tip: If you want to find good deals, make sure you are patient enough to weed through all of the clearance items to find that treasure you have been searching for.
10. NO LAST MINUTE ADD-ONS
Those little items, foods, and magazines are placed in line for a reason. You are going to be standing there and will read the covers and think you need to buy. Or, you will look around at things and tend to pick them up. Or, if you are waiting for a while, you might be hungry and be tempted to grab a last minute snack.
Money saving tip: Just leave those items alone and do not add them to your shopping cart. It may take some self-control, but those little purchases can quickly add up.
Do you have any money saving secrets you would like to add?