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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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Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

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