Are you a victim of impulsive shopping? Do you get distracted while shopping for others and end up breaking the bank on gifts for them or maybe sneak in a few purchases for yourself as well? With e-commerce, the situation could be worse as you have every store and product at your fingertips. With ads thrown into each web site and email you read, it is hard not to succumb to temptation.
Below are three tech solutions for controlling those impulsive shopping behaviours and completing your gift list on budget and on time.
BLACK FRIDAY SHOPPING FACTS FIRST
While in person shopping will not be as robust this year, it won’t slow down consumerism. Online shopping will clearly dominate this holiday season as retailers make it more convenient and stress free to purchase from the comfort of your own home.
According to research conducted by finder.com, a staggering 87% of American adults plan to spend money on Black Friday/Cyber Monday sales in 2020, averaging $664 each. That totals to $148.5 billion on planned purchases. The worst part is that 64% of those purchases will be regretted! Ouch!
Analysis by Gender
- No surprise that women will spend more on furniture and appliances while men will spend the most on electronics
- Men plan on spending bigger at $724 on average compared to $610 for women
Analysis by Generation
- Millennials plan on spending the most when it comes to generation ($851), followed by Gen X ($679) and Gen Z ($594)
- Baby Boomers have fallen to fourth with $577 in planned purchases
“Think about what you want, and more importantly, what you actually need. While items are heavily discounted during this time, don’t be tricked! Sales may start earlier, or that “sale” price might actually be offered all year ‘round. By gathering information, making a list and setting a budget for yourself, you’ll be more aware of a great deal when you see it,” says Jennifer McDermott, Consumer Advocate at finder.com
3 Smart Tools That Help Curb Impulse Shopping
Tip #1 – Use Icebox for a Cooling Off Period
Put your own wish-list “on ice” by installing Icebox, a Chrome browser extension that encourages you to avoid impulsive purchases, and shoppers’ remorse, according to McDermott. It’s easy— the program covers “Buy It Now” buttons with “Put it on ice” buttons. You can choose the length of your cooling off period before a reminder comes up to see if you’re still interested.
Tip #2 – Make A “Smart” Gift List
Just like going to the grocery store, online shopping is more manageable with a list. Santa’s Bag for iPhones not only puts that list on your phone (easy access), but it also budgets for each recipient, itemizes her/his wish list, and what you actually bought with pricing included. Plus, you can upload photos for the recipient as well as the gifts with links to the online vendor.
Google Play has an app called Christmas Gift List that’s a pared down alternative for Android users.
Tip #3 – Comparison Shop
A major reason for Buyer’s Remorse is seeing, or feeling like, you spent too much money on a purchase. “When completing your research, check a variety of stores and sites selling a specific item, as many retailers will price match such a competitive time. There is also an abundance of exclusive coupons and deals on finder.com you can use to stretch your dollar further,” advises McDermott.
About the author:
Thea Wood is a certified professional image consultant who lives in Austin, Texas, and has appeared on Fox 7’s “Good Day Austin,” local radio talk shows, and public speaking events. She loves fashion, live music, and her English bulldog Spike.