We have all been in this situation. It is Black Friday, Cyber Monday or a huge holiday weekend sale. Bright red banners scream “50% OFF!”. Doorbuster DEALS!”
You get really excited you grab a cart. You open a lot of tabs on your browser and you start buying things because the prices look too good to pass up.
Once everything settles down and the boxes arrive at your door you start to wonder: Did I actually get a deal or did I just get tricked into buying something?
To figure out if holiday sales are really good deals we have to look at the secret mind games that stores play on us. The Clock is Ticking this is like a trick that stores use to make us buy things fast.
They put up countdown timers. They say things like “Only 3 left at this price!”
When you see that a deal is about to expire you panic. You stop thinking “Do I actually need this thing?”. You start thinking “I have to buy this thing right now before someone else does!”
Usually the store has plenty of things or the sale will happen again month. They just create an emergency to force you into making a fast decision instead of a smart one.
- The Anchor Trick, this is another trick that stores use to make us think we are getting a deal.
Imagine you walk into a store. You see a pair of headphones for $100. You might think “That is a bit pricey.”
Now imagine you see those same headphones but the tag says: they were $300 now they are $100!
Suddenly you think you are saving $200.
The truth is, those headphones were probably never worth $300. The store just marked them up so they could mark them down. You did not actually save $200 you just spent $100 on holiday sales.
- “Derivative” Goods this is the trick of all especially with electronics like TVs and laptops during holiday doorbusters.
Many big brands make lower-quality versions of their products just for holiday sales.
They look almost identical to the models but they use cheaper parts inside.
So when you buy that cheap $150 TV on Black Friday you are not getting a premium $500 TV at a discount. You are getting a made TV that was built specifically to be sold for $150 on holiday sales.
The Final Verdict: Good Purchase or Bad?
Holiday sales can be deals but only if you were already planning to buy the thing before it went on sale.
If you have wanted an espresso machine for six months you know its actual price and you grab it for 30% off during a holiday weekend that is a good deal. You won.
If you bought a robot vacuum just because it was a “lightning deal” you did not save money. You spent money you would not have otherwise spent on holiday sales.
The best way to win is to slow down ignore the countdown timers and ask yourself: Would I buy this if it was price, on holiday sales?
My2Cents 