Shopping is a battle between consumer’s will to spend less and company’s effort to get more money out of customer’s pockets. In this unavoidable battle, the company always wins and there’s nothing you can really do about it. They use certain sneaky tricks that bend our mind into spending more. However, these aren’t some street magic tricks but instead, are psychological ways in which they push their customers. From font size to the tiles on the floor, they use methods which we can’t even think of. So next time you find more amount spent on shopping, you know why it happened.
1. Dropping The Currency Sign
In most of the restaurants, you will see the menus doesn’t have the currency sign before the rates. It’s not a stylistic choice but an attempt to make you spend more. In a report of Cornell University, diners spend eight percent more when the currency sign is missing from the menus.
2. Decoy Pricing
You must have wondered why the difference between, say, a small and medium popcorn tub is greater as compared to the difference between medium and large. This is just one of those secret tricks which make you believe that the larger quantity you buy, the more you are saving.
3. Scarcity Illusion
A research reveals that a person is more attracted to scarce resources. This is exactly what companies do to fool us to spend more. Next time you see “hurry up, limited stock” don’t believe them.
4. Small Tiles
Boom in online shopping has made the retailers more creative. A report of IESEG School of Management in France suggested that closely spaced and horizontal lines slow down the pace of shoppers. It forces them to browse and buy more. Whereas wider gaps between the tiles have an opposite impact.
5. Myth Of Fair Value
Many of us must have seen “Buy 5 for 5 bucks” and loaded our cart with 5 items. Stop right here, and think that 5 for 5 bucks is just another way of saying 1 for 1 buck. It’s just the myth that drags the customer to spend more than they actually need.
6. The .99 Pricing
This sneaky trick is the most popular amongst all the companies. Have you ever thought that $4.99 and $5.00 are same? Well if you have, you’re wrong! According to New York University, the prices with an ending ‘.99’ will have an impact called the left-digit effect. Due to this, we perceive the product to be cheaper than it actually is.
7. Rude Salespeople
If you think that a well-behaved staff would make a store grow, you’re wrong again. It is observed that bigger stores tend to have people with an arrogant attitude. It makes the shoppers think that since they don’t have the luxury product, they are not treated well. So they end up buying it. Being snobby must be a qualification for the people of these stores I believe.
8. Only 3 Per Customer
Some of the companies set a per-customer limit, where only a certain quantity is allowed for a customer. But why is it so? Is there a scarcity of the product? No. They yet again trick the customer into buying a quantity more than they need. This happens because the shoppers assume the product to be so scarce, that its sale is being limited.
9. Small Fonts
Our brain associates small fonts with a lower price. This is the reason why when a sale is promoted, the company usually keeps the sale price in smaller fonts. The University of Connecticut suggested in their report in 2005, that the people who see a sale price in a larger font are less likely to buy a product as compared to the ones who see it in a smaller font.
Restaurant menus with simple names of dishes, versus the ones with a complete description are yet another sneaky tricks. According to a research of University of Illinois and Cornell University, descriptive menu cards raised the sale up to 27 percent. Damn, they are effective.