Inwood MagShopping Secrets
Many people think they are smart and sensible shoppers, but stores have ways of tricking us into spending more money than we really need to. Remember that stores are in business to make money, not help your budget, so you have to learn their marketing strategies and outsmart them if you really want to get the most for your money.
For example, many sale prices are not really much of a discount. The MSRP, or Manufacturer’s Suggested Retail Price, is rarely the regular, set price for a particular item in a certain store. Many stores will rarely charge that much, and instead their regular price is 10 to 20 percent less than the MSRP on the tag. They do this on a regular basis to make their customers feel as if they are getting a deal, so when they advertise a sale of “40 percent off”, it is really not as steep of a discount as it seems. For example, an item with a MSRP of 19.99 might be on sale virtually any time for 15.99, or 20 percent off. When a store advertises the item for 11.99, they will claim it is 40 percent off, but it is really just a discount of about 25 percent. This is certainly a good deal, but it is not as exciting as the 40 percent they advertised. Stores do this for one reason: The more you think you have “saved” the more likely you are to purchase the item.
Another shopping trap to avoid is “buying fever”. Stores may lure you in with a very low advertised price on a particular item, but once you’re in the store you end up spending a lot more on other items. Shoppers often justify this in their mind by thinking of all the money they saved on the original item. Basically there are two things to remember here: If you weren’t going to purchase it anyway, you aren’t really saving money, and if you spend your savings on something else you didn’t already need, then once again you aren’t saving money. If you make a special trip to a store to purchase one particular low-priced item, take just enough money for that item, or get out of the store immediately after you find it.
Merchandising displays are another clever way of digging into your wallet, by placing tempting items in your path where they are hard to ignore. There are several ways to avoid this pitfall: Spending less time browsing and window shopping, making a shopping list and sticking to it, only carrying enough money for your intended purchase, and using your smart phone to investigate whether there might be a better deal elsewhere.
Last, remember that sales are a marketing tactic to draw you into the store, and the hope is that you will spend more money on other items once you’re there. The best approach to shopping is not just to follow the ads and shop because there is a sale, but to watch the items you want or need and shop accordingly. Some of the best sales are not advertised, because their goal is to clear out leftover merchandise, not to make much money off of you. The best deals are found not on advertised merchandise, but in the back of the store on clearance racks. Learn the clearance schedule at your favorite store, and watch your newspaper for “extra percent off” coupons – then use those coupons on already clearance-priced merchandise.
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