Black Friday Shopping: How to Avoid Buyer's Remorse
Black Friday is rapidly approaching once again, transforming from an American tradition into a global shopping phenomenon that dominates retail calendars worldwide. However, research from investment platform Aegon reveals that nearly 60% of last year's Black Friday shoppers would change their spending decisions if given another chance.
According to Cathrine Jansson-Boyd, a Professor of Consumer Psychology at Anglia Ruskin University, this regret commonly follows impulse purchases. Consumers often find themselves questioning whether they made the right choice between competing products, like deciding between a Sony and Samsung television.
The Psychology Behind Impulse Buying
When we encounter products that appear reasonably priced or discounted, the pleasure centres in our brains become activated. Combine this neurological response with the urgency created by limited-time offers and restricted stock announcements, and shoppers often feel compelled to make purchases they might later regret.
Fortunately, there are practical strategies to help maintain control over your spending during the Black Friday sales frenzy.
Eight Proven Strategies for Smarter Spending
Avoid shopping when tired - Fatigue reduces rational decision-making and self-control. When mentally exhausted, emotions take over, making you more vulnerable to attractive deals on items you don't actually need.
Shop in the morning - Your mental sharpness peaks earlier in the day, leading to better purchasing decisions. As decision fatigue sets in later, your willpower and focus diminish from making hundreds of daily choices.
Don't rush your decisions - Allowing extra time enables your brain to process relevant information and filter out distractions. Just adding one second to your decision-making process can significantly improve purchase choices.
Research prices beforehand - Not every Black Friday deal represents genuine savings. Shockingly, only 2% of offers in previous years were actually at their cheapest price compared to six months before and after the event. Use AI tools to check historical pricing.
Create a list with a budget - Planning your purchases in advance reduces the temptation for excessive spending and keeps you focused on what you genuinely need.
Use cash instead of cards - You're likely to spend more when paying with cards or phones. Physical money makes you more aware of your diminishing budget, similar to noticing your paper money running low during a Monopoly game.
Avoid touching products in stores - Research shows that physical contact with items increases your willingness to purchase them and pay higher prices.
Question why items are discounted - Consider whether products are reduced because newer models have been released or because previous customers gave unfavourable reviews. Always check product reviews before committing to a purchase.
By implementing these sensible precautionary steps, you're far more likely to feel satisfied with your Black Friday purchases and avoid the common regret experienced by many shoppers.
