Retailing and marketing strategies are designed to encourage you to spend more than you plan. You can avoid these tactics by being aware of the tricks used to make you buy.
- “5 for $5” implies that you must buy five to get the deal. However, you most likely can buy one for $1.
- Taller, narrower packages are often viewed as holding more product. Be sure to check the actual weight. Also beware of smaller packages for the same price as before, or even higher.
- “Up to 50% off” usually means many items in the store are being sold for a discount of less than 50 percent.
- “A small $5 fee,” instead of “A $5 fee,” may influence you into thinking that is more reasonable than it really is. Also beware of prices that exclude shipping and taxes.
- Rebates attract customers, but not everyone submits the needed paperwork to receive the refund.
- Many prices end in 9 to create the impression of a lower price.
- Beware of promotions that emphasize low payment; be sure to calculate the total price.
Remember: items may not always be “on sale,” but they are always “for sale.”
For additional information on avoiding marketing tricks, click here.
- Have students talk to others to obtain suggestions for wise buying.
- Have students create a visual summary (slide presentation or video) with tips for wise buying.
- What actions can a person take to prevent spending money unwisely?
- Describe actions you use to make wise buying decisions.