Even if you’ve only gone shopping once in the past year, you’ve likely noticed that we live in the age of sales. What used to only be seasonal, now seems to be happening all the time, with retail stores always offering some sort of discount or promotion. It begs the question: when the heck are you actually getting a good deal?
In an article with Racked, Wharton professor of marketing Barbara Khan, divulges some interesting tidbits so we can know the facts and evaluate. Stores have an end goal of selling and they use a number of tricks to try to fool you. Don’t let things like wording or decoy pricing sway your choice; check out a summary of the tips on how to shop smart below!
Be educated on prices
If you don’t know the normal value of something, the more likely it will seem like a good AF deal. Always know what the going rate is for an item so you can better assess the discount – it’s called ballparking Linda, look it up – and with cell phones/wifi it’s not too difficult to find out.
Use the rule of 20% off
According to some psychological research, the rule of thumb is that the discount should be at least 20% off. For example, don’t be fooled by an item that says “$30 off” – if the item was more expensive it may only be %10 off. Do the math and make sure you stay away from that fake love.
Not every Holiday warrants a good deal
Essentially some Holiday’s will try to catfish you into thinking they’re something they’re not. The Holidays that could be confirmed as being worthwhile were Prime Day, Black Friday, and January or end-of-season sales. But once again, still do your research when sifting through any and all types of bargains.
Be aware of pricing schemes
Pricing schemes don’t care about your #brokelife, FYI: basically, every retailer uses them. Classic methods are luring you in with so many deals it’s cray cray and you end up buying a whole bunch of crap you didn’t need, OR…. placing uber expensive items near the front of the store to make sales at the back end seem like a better deal when you reach them.
….And this is why I have trust issues. Try making use of these tips the next time you spot a sale, and you’ll know with more certainty that you’re ACTUALLY getting a good deal.
Sources: Racked.com, Wisebread.com
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