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15 Sneaky Retail Tricks That Make You Spend More (Stop Falling For Them!)

15 Sneaky Retail Tricks That Make You Spend More (Stop Falling For Them!)

Like any other business out there, retail stores exist to take your money. You go in, you spend money, you get things, and everyone walks out happy. Where there is money to be made, there are tricks up their sleeves to get you to spend it. Here are some retail tricks that try to coerce you into spending more cash.

1. They’ll use gigantic sales signs

We’ll start out with one that’s fairly obvious. When stores put giant sales signs in their windows, it attracts your eyes. You’ll wonder what’s on sale exactly and go in to scope it out. There, you may buy something on sale or you may buy something at full price. Either way, they got you inside and made you spend money.

2. They put shopping carts at the entrance

At grocery stores this makes sense but at retail stores? Well there is a psychological reason. In the 1930’s, they started putting them near the entrace to inspire you to make larger purchases. You can’t buy a 50-inch TV if you don’t have anything to carry it in, right? You’re also less likely to buy a large, expensive item if you have to go find something or someone to carry it for you. Thus, they make it nice and easy to find transportation for your large purchases.

3. They put the high profit items in the front of the store

Have you ever walked into the grocery store and immediately seen things like baked goods, floral items, and stuff like that? There’s a reason. Bread and flowers make grocery stores the highest profits. They draw your eyes to these items because they smell and look good in hopes that you’ll buy them. Not all stores practice this but most grocery stores will. It’s all about putting your biggest money maker up front first!

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4. They will put the essential items toward the back of the store

That way you have to walk through the entire store to get to them. That’s why milk, meat, cheese, and similar items all rest almost exclusively against the back wall. You have to walk down various aisles to get to them and to get back to the registers in the front. This exposes you to a bunch of the store’s inventory. It doesn’t take a study to know that if you look at enough stuff in a grocery store that you’ll probably buy something else other than what you came in to buy.

5. You are being conditioned to walk up and down all of the aisles

A study has shown that stores try to condition you to travel down all of the aisles so that you’ll continue doing it even after you get everything on your list. Each aisle has only a part of a meal in it. To get all of the meal, you have to travel down multiple aisles. Since no store has a standardized set up, you have to travel up and down all of the aisles to find all of the ingredients. Eventually you’ll start doing it out of force of habit even after you’ve completed your shopping list.

6. The most profitable items are put on eye-level

Looking up and down in every aisle the entire time you’re out shopping is something most people just don’t do. It’s about time you start even if it’s tedious and time consuming. Stores will put the more desirable and profitable items at eye level so that you’ll see them easier. This increases your chances of buying the more profitable items. They also do this at the eye level of kids so that they’ll try to talk you into buying even more things.

7. The sample stations are meant to slow you down

Sample stations give away free samples ostensibly to expose you to new products. That is actually true (and another trick stores use but you knew that one already) but it’s also meant to slow you down. If you’re rushing through a store to pick up a few things, some free food gets you to stop, stand still for a moment, and look around. This increases your chances of spotting something you want to buy.

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8. They keep things in reach

Studies have shown that people who touch things are more likely to buy them than those who do not touch things. This is especially true in clothing stores. You put your hands no a shirt and feel the fabric. You may pick up something in a store to look at it. All these things help you make your decision to buy something. That’s why very few stores have things that are out of reach. If you can touch everything, that’s higher odds that you’ll buy at least some of it.

9. They play music to put you in the mood to have fun

People who are having fun are also spending money. That’s why stores will often play music inside of their stores. It puts you in a better mood (assuming you like the music) and encourages you to buy things. It’s an amazingly easy tactic to understand and pull off. Even grocery stores will play a radio station these days.

10. They put their stores in huge buildings to make you more comfortable

Crowded stores make people uncomfortable. It’s no fun trying to shop when you’re shoulder to shoulder with dozens of other people. Everything gets hot, it’s stifling, and you can’t really see everything. Thus, stores put their locations in huge buildings so that everyone can fit. It also lets them fit a larger inventory which improves the number of choices you have. That also happens to improve your chances of buying something.

11. Every single holiday is a huge sales event

Holidays are happy times. People are off of work, they’re having fun, and they may have gotten a bonus at work. That’s the kind of stuff that stores want to hear. They use holidays to create huge sales events so that they can take advantage of your good mood. We talked earlier about how happy people spend more money. Holidays make people happy and that means they’re primed to spend money. The sales are meant to get you and your happy self into the stores and spending that paycheck on discounted stuff and maybe some non-discounted stuff, too.

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12. They use customer rewards cards

Lots of different places use these. Gas stations, restaurants, and retail stores all use this tactic. You may pick up a rewards card, swipe it at checkout, and you get points. Those points seem like a good idea but it’s really all a ploy. What they are really meant to do is inspire you to continue shopping at that one store chain. After all, if you spend all your money there, you’ll get rewards points which you can redeem for other stuff. As it turns out, by the time you get enough points for those nice things, you’ve already spent so much money that they’ve made a good profit off of you. We’re not saying they’re bad but you now know why they exist.

13. The domination effect is your enemy

Sources have said that people are actually more likely to spend $100 when they’re broken up in smaller bills ($1, $5, $10, and $20 bills) than if they were carrying a single $100 bill. The reason why things like magazines and candy are at the checkout lines are because they cost a dollar (sometimes less) or a little over that. When you’re forking out $0.75 for a candy bar, you don’t really feel like you’re spending any money. However, you likely won’t break a $20 to buy that candy bar. Stores know this and that’s why they only put these items at the checkout line. You’re going to spend money anyway so why not spend an extra buck? That’s a buck you probably wouldn’t have spent with a $20 in your pocket if you’d seen that candy somewhere else in the store.

14. They invented vani-sizing

Vani-sizing is a real thing that stores do. They make cloths bigger but put them in a smaller size. If you look here you’ll see that a size 36 pants (men’s) actually measures a 41 when you buy them at Old Navy. When you try on a size that you think is too small and then it magically fits, you feel good about yourself and you’re wildly more likely to buy that clothing item. Practically every retailer does it so if you measure a 40 and you fit into a 36, rest assured that 36 is actually a 40.

15. They put arbitrary limits on goods you wouldn’t buy that much of

You’ve seen this on coupons before and it’s usually phrased as “limit one per customer.” Sometimes in sales, stores will put limits on things to make them seem more appealing. You may go to buy a shirt, see that they’re discounted, and then see that the discounted rate has a “limit of five per customer.” Seems like a good deal so you buy five shirts right? Well, you only went in there to buy one. They win.

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Retail stores aren’t evil for doing things like this (except maybe the vani-sizing). Like any business they need money.

Featured photo credit: CBS Dallas via cbsdallas.files.wordpress.com

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Joseph Hindy

A writer, editor, and YouTuber who likes to share about technology and lifestyle tips.

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Last Updated on April 28, 2020

9 Millionaire Success Habits That Will Inspire Your Life

9 Millionaire Success Habits That Will Inspire Your Life

As technology evolves and information becomes more accessible, it has also become more challenging to define success. A lot of people are trapped in the rat race while trying to discover the actual formula for success.

You could become overwhelmed with what tools, techniques or philosophies to imbibe while trying to get tips over the internet. At every click and turn, there are ‘how-tos and quick-fix’ on how to become successful overnight. You will find several courses, articles, videos and books on how to achieve financial success.

But what if I tell you it doesn’t have to be complicated as people made it out to be? What if you could achieve success by merely following these 9 millionaire success habits?

1. Read for Personal Development

A daily habit I have discovered millionaires share in common is reading. For instance, if you are an entrepreneur, you need to read to become an efficient leader and a productive business owner. Reading helps you to grow and learn without going to a business school.

A research conducted by Thomas Crowley indicates about 85% of self-made millionaires read at least two or more books each month. [1] Warren Buffett is one of these examples. He spends 80% of his day reading. In the early days of his investment career, he would read 600 to 1000 pages in a single day.

While millionaires sometimes read for pleasure, they also learn to improve themselves. They read topics on leadership, how-tos, self-help, biographies, lifehacks and also follow current events.

Here’re some recommendations for you: 25 Best Self Improvement Books to Read No Matter How Old You Are

2. Establish Multiple Sources of Income

Another success habit I noticed about successful people is that they don’t depend on a single income source. Every millionaire possesses multiple sources of income. This helps them to manage economic challenges and also make more money.

They are passive income addicts. They earn interests from loans, rental income from real estate, royalties from intellectual properties, dividends from investments. They also launch a side business or run a website or sell information products.

How income is made either passively or actively is what separates the successful from the wannabes. They are always learning ways to build multiple streams of income.

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3. Live on a Stipulated Monthly Budget

An average millionaire does not believe in luck and jackpot. They take the time to understand cash flow-income and expenses. Based on this, they establish a monthly budget and religiously stick to it.

The essence of the budget is to minimize unnecessary expenses. This will help you gain complete control of your financial life. Budgeting helps you to avoid overspending to achieve your financial goals. Here’re some tips to help you stuck to your budget: 32 Hacks for Sticking to Your Budget

4. Manage and Maximize Money

The most significant education for a millionaire is financial intelligence. Nobody attains financial freedom without gaining financial intelligence. This is the more reason millionaire, regardless of their income, keep their knowledge about tax strategies updated.

They always seek to reduce their tax bills. One approach they employ is by living or incorporating their business in states with no income tax.

Do you know that about 60 companies paid $0 legally in the 2018 tax year? Some of these companies that ‘avoided'(note: not evaded) federal income tax include Chevron, Amazon, Halliburton, General Motors, Delta. Their US income was totaled at $79 billion with an effective tax rate of -5%.

What’s the deal? They got a tax refund.

How do they accomplish these?

An ITEP report indicated that they have the culture of throwing huge sums at tax experts who assist them in discovering creative, as well as convoluted means of paying little tax as much as possible.[2]

5. Avoid Debt

Another habit that separates the millionaires from the rest of the world is how they manage debt.

They don’t live an extravagant lifestyle; instead, they only buy what they need and can pay for. They do not book hotels and flights by using their credit cards to pay for them.

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They are conscious of the interest rates even when they use credits cards or take loans. If possible, they try to pay with cash because of its zero percent interest rate.

6. Set Daily Goals

It does not matter if they are setting up a business, a career, or financial projections; they have the success habit of setting short term goals. They plan daily and weekly goals to generate momentum in achieving their long-term goals.

Ensure you prioritize when setting daily goals. This will help you to achieve the most important to-dos on your list.

Setting priorities will help you to focus on highly rewarding activities. If you desire financial freedom, it is wise to pursue activities that earn you thousands of dollars rather than hundreds of dollars.

7. Don’t Act Rich

The goal is not to act rich but to be productive. Interestingly, Thomas Stanley buttressed in his book that for the most prestige brands of cars, about 86% percent are toys of the non-millionaires. While most believe that people with huge fortunes tend to drive exotic cars, in reality the largest consumers of pricey cars are aspiring millionaires.[3]

According to findings by Experian Automotive Researchers, 61% of individuals who earn $250,000 or more rarely buy luxury brands. Instead, they buy Hondas, Toyotas, and Fords like the rest of the world. The reason is they are not ready to spend money on premium cars that tend to drop in value in a couple of years as it would cost money. Millionaires invest in assets that appreciate.[4]

8. Own or Buy Businesses

In Robert Kiyosaki’s cashflow quadrant, he divided how you earn income into four quadrants. The E and the S quadrants take the left position while the B and the I are on the right side. According to Robert, it is possible to be on all quadrants, but the millionaires are not.[5]

  • E stands for employee – they work for others
  • S stands for self-employed – they work for themselves
  • B stands for a Business owner- employees work for them (500 or more employees)
  • I stand for Investors – Money work for them like Warren Buffet.

Your goal is to move from the left quadrant to the right quadrants where you own big businesses or make money work for you.

It is possible to become financially successful by pursuing what you love. For instance, if you love writing, aspire to be the best seller. Wealth and passion work together.

Check out How to Start a Small Business with Little to No Money for tips.

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9. Avoid Get-Rich-Quick Scheme

A millionaire holds patience as an essential virtue. It takes patience to become successful, not only in finance but in every aspect of life. While it is possible to become financially successful at an early age, most millionaires hit it at age 50. They live a moderate life, invest in their future and retire rich.

Bonus: How to Develop the Millionaire Success Habits?

Having learned these habits, the next question is,

How can I develop the Millionaire Success habits?

Here are six values you will need to develop:

Establish Your Life Vision

You need to be clear about what you want in life to set yourself for a life of success. Your vision has to go beyond becoming a millionaire to understanding why you want to become one. Any great entrepreneur you will ever find has a clear vision and an established mission.

Understanding why you are doing what you do will drive you to become the kind of successful person you want to be.

Make Your Passion a Profession

When your passion becomes your profession, work becomes pleasurable. Loving what you do enables money to flow to you and through you.

So what’s going to be? Wake up every morning by speaking positive words into your work, love what you do, and focus on the work that brings you joy.

Take a look at this article and learn how to make it happen: 5 Steps To Turn Your Passion Into A Career

Focus on Solution

Focusing on the solution means establishing the problem that you or your business address. This will help you focus on the solutions when others are faced with challenges.

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A millionaire has a mindset that is fixed on the solution. He or she knows there’s a way out, and that every problem is an opportunity in disguise.

Improve your problem solving skills with these tips: 6 Effective Ways to Enhance Your Problem Solving Skills

Develop Your Leadership Skills

Leadership skills are an asset that is indispensable if you want to develop a millionaire success habit. The more you hone your leadership skills, the more you will attract leaders who share your values.

Be Growth-Focused

Millionaire entrepreneurs prioritize self-improvement. Here’s how to achieve it:

  • Get a coach. Coaching will impact your life, and you will achieve peak performance in life and business when you have a life coach.
  • Be coachable. It is not enough to have a coach; you must be coachable. Sometimes, you need feedback and counsel to reposition your life and business. A coach has the wisdom and experience to counsel you from a higher perspective. The more you receive feedback and work on yourself, the more you become better at what you do and who you are.

Flip Your Thought Pattern From Acting To Being

It is not enough to have a millionaire success habit, you must also become a person of positive influence. This is how you can become significant. Bill Gates is not only rich; he is changing lives in Africa and different parts of the world.

If you want to become successful, you must first be and think like a successful person. This is how resources you need can flow into your life.

Here’s a final thought from me:

It is not enough to do something to have something; success is about being someone who possesses what is needed to take positive and inspired actions.

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Featured photo credit: Austin Distel via unsplash.com

Reference

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