Just as more shoppers are trying to stick to a budget, retailers are using tried and tested marketing techniques to get you to spend more money. Here are some tricks for you to be on the look out for while you are shopping this season:
1.) Tricky price tags- Anything that says “limit one per customer” makes you feel like you need to buy it. They also use tags for pricing tricks, $.99, $19.99 or $19.98 to make the item appear cheaper.
2.) Necessities like milk and eggs are placed in the back of the store- this makes you have to walk through the whole store to get to them and perhaps buy more along the way.
3.) Music in the store- Studies show that slow tempo music slows down shoppers and makes you spend more time in the store making you more likely to buy.
4.) Look high and low- the most profitable (higher priced) name brands are usually placed at eye level and manufacturers often pay a premium for this prime shelf placement. For better value, look at the private label and lesser known brands on the very top and bottom shelves.
5.) Signage- studies show that consumers are attracted to the first items they see, so retailers place merchandise with the highest profit margins near the front of the store with attractive labels or tags on them. Ignore those up front racks and tables laden with expensive items and go to the back of the store first.
6.) Shopping carts are bigger now- studies show the bigger basket means shoppers will buy up to 37 percent more.
7.) And finally, the salesclerk. Ever walked into a department store just to purchase a lipstick, but end up with lipliner, a makeup brush and eye shadow? Well, that is the salesclerk’s job… to upsell you. They can engage you in a conversation about your great red sweater and then ask if you are buying red blush to match it.
Be aware and stick to you buying plan. If you are headed to the store for just a few items, make a list and stick to it. Don’t linger in the store and give yourself a time limit if necessary. Look out for the tricks so you can keep more of your money in your wallet.
Black Enterprise columnist Jennifer Streaks is a Financial Expert, Author & Pundit. Continue the conversation by following her on twitter @jstreaks or going to her website www.JenniferStreaks.com.