Impulse buying may seem like a bit of fun for many, but it can have damaging financial consequences. Indeed, research in 2011 found that the average American male spends over $2000 a year on purchases bought on impulse. The figure for women is less, but at $1500 still represents a significant amount. The vast majority of these purchases are unnecessary and the products aren’t useful in the long term. However, impulse buying can become an addiction with shoppers getting a buzz from purchasing their new items. Here we will look at some methods to help people avoid impulse buying.
Impulse purchases kill a budget
Avoid sales and marketing
Sales can spell bad news for impulse buyers. People may feel inclined to buy something they do not need just because it has money off. Do you know what this phenomenon is? False economy. Avoid sales where possible and remember that it is always cheaper not to buy anything! Marketing campaigns do the same.
Best thing to do: unsubscribe from mailing lists. All the emails in your inbox, they’re enticing designs have you spending money. If you don’t hear about the latest products you can’t buy them. E-mail adverts tend to be the worst as they often contain a link directly to the site’s shop.
Make a list and stick to it
Every time you go shopping make a list. This way you plan ahead and methodically select the things you actually need. Stick to the list and you are less likely to buy extra treats on impulse. When shopping online thoroughly research items that you intend to buy. This gives you more time to decide whether you actually want the items. Even if you do end up buying it you will often have found a cheaper price whilst carrying out the research. When shopping online make a wish list of items you feel the urge to buy. Wait a day or so and then revisit the list. It is likely the impulse to buy the items will have now vanished.
Do not shop when upset
Many impulse buyers shop when upset. It cheers them up. DANGER ZONE. Avoid at all costs. The purchase may make you feel better for a while but you’re likely to feel worse when you realize how much money you have spent on an unnecessary item.
Do not be afraid to take items back
Many impulse buyers find themselves regretting their purchases just a few days after they buy them. If so, return them! Don’t feel embarrassed doing this. Returning items is a good way of taking back control after the impulse buying had originally won out. The vast majority of stores offer a full refund for unused items up to 30 days after purchase.
As we have seen there are several methods available to help avoid impulse buying. Perhaps the most common theme in the majority of them is attempting to delay the purchases for as long as possible. Impulse purchases are often unnecessary and people realize this in time. By delaying the purchase you give yourself time to realize you do not actually need the item before you go ahead and buy it.
Author bio: Agnese Geka – blogger and online marketing consultant for SurveyCompare which is online guide through the most legitimate and trustworthy paid survey companies.