Beware of All the Ways Your Favorite Companies Trap You into Spending More Money. Here Are a Few of Those Ways.
The average American starts accumulating debt from high school. That’s a young age to start owing people money, worrying about interest and how you’re going to pay it back.
With this in mind, we’ve compiled a list of 15 Sneaky Strategies Companies Get You To Spend More Money, so you can be aware of them and avoid falling into the trap of accumulating debt.
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With that said, let’s get into today’s list.
Promises of “Free” Items
BOGO – Also known as Buy One Get One!
Aluxers, even our script writer wanted to tell you that when typing in “Free Gift” Grammarly wanted to shorten it to gift… because gifts are free! You don’t pay for a gift!
All of these “free” offers always want you to do one thing… SPEND!
One Click Ordering
Just when you thought this was to make your life easier, you were wrong. One-click ordering is another one of the strategies that companies use to make you to spend more without realizing it.
It’s easy, effortless and seamless – allowing the user to order without having to find their credit card details.
Lucrative Membership Offers
But woe betide you when you try and get out of the membership – They’ve got you strapped in tighter than the dominatrix advertising her services on Craigslist.
They say life’s too short to read the fine print, but in this case, you’re signing your life and savings away by not reading the fine print.
Older Tech Is Purposefully Slowed Down
BBC confirmed that Apple were fined for slowing down old iPhones.
Apple were fined $27 million for deliberately slowing down older models of iPhones without informing their customers about it.
Apple’s reasoning was they did it to “prolong the life” of the devices.
Naturally, not all Apple is sneaky, and you’ll find that Tim Cook is an admirable leader when you watch this video – 15 Things You Didn’t Know About TIM COOK.
Like one commenter, Kritik Gupta said, “Steve chose the right person, wish he was here to see his company at the top of the world.” Thanks for your feedback Kritik Gupta!
Pricing Is an Art Form
Sure, it doesn’t make cents… but those $9.99’s do… and they make a significant difference when it comes to influencing your buying decision.
There are other psychological tricks that we fall for, for example:
Putting a $300 handbag next to a $150 handbag. You’re bound to recoil at the price of $300 but $150 sounds more doable… even if you don’t need it.
Price tags ending in 9 or 8 like $4.98 or $4.99 make you think it’s a good deal.
The price of a product ending with 00 like $10 makes you believe the quality of the product is better.
Price tags ending in random numbers like $3.86, makes you surmise the product is at its lowest price.
And those are just a few examples.
If you have a business of your own and want to learn some strategies, check out 15 Life and Business Lesson to Learn From Chess.
Layout Plays a Huge Role in Your Spending
Ever wondered why you need to walk through the entire supermarket just to get a loaf of bread? Elementary my dear Watson… it’s because you must pass a million other non-essentials to get there.
Brand names are placed at eye level, which usually cost more, and bargain bins find their home near the entrance to grab your attention and your money. No Susan, you do not need more Christmas ornaments, it’s the middle of August, just pick up the bread and go.
Blast from the Past
If new tactics are not working to get your product, business or company selling, throwing a little nostalgia into the mix almost guarantees a sale.
A little Paceman for your 80s kids? Tamagotchi for the 90s kids? Or Bratz Dolls in the 2000s? Bringing back memories from a childhood is a sneaky strategy to sell – so don’t cave into your lost youth and save your hard-earned cash.
Here at Alux, we don’t need to use a sneaky strategy to sell our merch. It’s really good quality and we’d love you to rock it. Head to alux.com/merch and check it out and let us know what you think.
Having an Easy Return Policy
Aluxers, this may sound counter-productive, but people are more inclined to spend more money on a larger purchase when they know that if they change their mind, they’ll be able to return the item easily.
And by the time you’re home with your expensive item, the actual chances of you returning the item are slim to none.
Product Suggestions / Upselling
It may not have been your intention when purchasing a new umbrella online, but when you saw how aesthetically pleasing the umbrella looks with brand new cushion covers for your outside pool table, well, pour a Piña Colada, because we’re Long Islanding it up out here…
There’s a reason that brand you’ve never heard of is trumpeting all its five-star reviews in a stream of Facebook ads. You’ll probably be a lot more curious about a product — and more likely to buy if “everyone” is raving about it. This simple concept, called “social proof” in marketing circle strategies, also applies when companies bring in “expert” testimonials or includes sales numbers in their advertising.
Incorrect Sizing – In Your Favour
We all know what size trousers we wear. We know that when we go to the mall to buy a new pair, but lo and behold, we must have miraculously dropped a pants size, because instead of the regular size 14, we’re suddenly a 12.
Man, you feel good buying those trousers, don’t you?
Now go and do a size comparison to the ones you have at home… You’ve just been a victim of vanity sizing.
The trolley or shopping cart was invented by Sylvan Goldman in 1937. He was the owner of the Humpty Dumpty supermarket chain in Oklahoma.
The original design had two large wire baskets connected by metal arms on 4 wheels. It was the result of Goldman wondering how customers could move more groceries out the store.
These days, trolleys are placed at the entrance on purpose. So, even if you wanted just a few things, you’re more likely to fill a trolley – because it does look a bit silly with just a few items. Trolleys are also made larger than needed, for that very reason.
Pre-cut / Prepared, Sliced, Diced and Ready to Go
We don’t have a problem with a convenience, just know that these are going to be more expensive.
Where the sneakiness comes in is that often those pre-packed, sliced and diced options are the off-cuts or unsellable fruits and veg that would usually get tossed away.
Again, it’s not problematic as we’re not about wastefulness either, but it’s certainly pricier.
Online Retailers Remind You of “Forgotten” Items
The beauty about online shopping is that it’s window shopping from your PC. How often have you placed items in your online shopping cart, and just felt better from that action… of course you’re not meaning to actually buy the item. However, one of the strategies of online companies is they like to remind you of the items you’ve “forgotten,” to purchase. An almost constant reminder of the items you nearly purchased after your Piña Colada’s.
Companies Team Up with an Influencer to Drive Sales
Not exactly sneaky, but one of the guaranteed strategies that companies use to increase their sales. Teaming up with influencers boosts conversions with Forbes confirming that “social media influencers really can drive sales.”
We advise that you read all reviews before blindly following the advice of your favourite influencer, because they too, are being paid to do a job.
Aluxers, we hope we shed some light on your next shopping experience and that we’ve highlighted just a few areas that you should be aware of when doing your purchasing. Remember, the power is in your hands, so be aware of all these sneaky strategies.
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What sneaky strategies have you noticed companies doing to get us to buy more? We’d love to hear from you.