Psychological Reasons Why We Shop Like Crazy on Black Friday
Even if you don’t plan on running at the door, there is no escape from the madness of Black Friday. Since October, stores have been “skipping” deals , teasing shoppers with previews and even trying to lure scammers into shopping with special online deals and instant sales. While those numbers fell last year, shoppers still spent an estimated $ 50.9 billion in 2014 during Thanksgiving weekend.
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So why are we keeping the Black Friday hype going? The Consumer Scientist and Consumer Psychologist shared some insights into why deals are so good, why buyers who plan ahead tend to lose it, and why some people who publicly condemn consumerism may still be the first to push you off the path to a great Black Friday deal. …
Deals seem so nice and sticker shock really hurts
“Every time people shop and find something interesting, there is a psychological joy of pleasure,” says consumer scientist James Moorey, an assistant professor at Driehaus College of Business at DePaul University in Chicago. When you see something you like, the nucleus accumbens , a central location in the brain’s reward center, is activated, he said. On the other hand, research has shown that unfair prices actually activate the islet of the brain that processes pain.
When customers see a product they like at a fair price, “they get all this super-satisfaction from the nucleus accumbens,” says Muri. “And they feel that they have not been screwed up, and they do not feel pain in the island – then they feel really great.”
Limited sales lead times and number of products create a sense of urgency – and FOMO
“The main goal of Black Friday is to focus shoppers on certain very limited sales opportunities,” says Laura Brannon, a social psychologist who studies consumer psychology and professor in the Department of Psychological Sciences at the University of Kansas.
According to the principle of economic scarcity, “opportunities are more desirable the more limited they are,” says Brannon. “Limiting the ability to buy things at a big discount makes people want that opportunity more.” Expressions used in advertising such as “supply limited” and “moving fast” underscore this.
Mouray, who studies consumer behavior in his book Persistence , says the idea that there is little item and the deal is limited – even though you know you can get the same item at a comparable price somewhere else at a different time. – makes buyers think irrationally.
While consumers are well versed with marketing gimmicks, it’s the fear of missing out that still keeps them lining up in stores and hovering anxiously around their laptops on Black Friday weekend. “Even though people might get a little annoyed with the feeling of being manipulated, they still think it’s beneficial,” says Brannon. “They can’t stand the thought that they might be missing out on a good deal.”
Closing a Doorbuster or Limited Item Deal Can Make You Feel Superior and Recognized
In the case of the door house and limited deals, Muri says, “There’s another aspect of tribal competition in that, where he’s like, ‘Yeah, I get it, you don’t.”
In fact, the sense of competition actually lends credence to the idea of Black Friday bargain hunting. “Creating a sense of competition, that everyone will be looking for the best deal, uses the principle of social proof:“ If everyone does it, it must be a good idea, ”says Brannon.
Buying something justifies a time commitment
After waking up early, queuing up, devising an attack plan, and making a frantic dash, you should feel the effort is worth it. Brannon says that the principle of “consistency and commitment” persuasion applies here. “Once retailers force shoppers to get up early and wait in long lines, they feel somewhat compelled to buy something to justify the effort.”
Deal teasers and previews spark anticipation
Retailers have been trying to captivate people with Black Friday since October with leaks and deal announcements. “Getting people to think about a deal with a teaser creates a sense of anticipation,” Brannon says, adding that anticipation leads to wanting more.
For example, sending e-mails and promotions to shoppers that they have to click to see how much discount they’ll get is part of a more interactive and game-based approach to marketing, says Muri. “We will give you a glimpse into the future to whet your appetite, not just tell you,” he says. “If we were just to tell you, this is lost in all the ads that are out there.”
Competition for customer attention is why stores seem to be releasing ads so early. Research has shown that “information that you come across early on tends to have a greater impact on us than later information,” says Brannon.
This may also be the reason why you see small retailers’ Black Friday ads earlier than large store ads. “The smaller store is trying to get into the game early and be what we call the pinnacle of the mind, so when people think about where they will go that day, they think of these small stores. more than your big box retailers, ”says Muri.
Black Friday has become part of the holiday tradition for some.
Over time, Black Friday has evolved into a social ritual, and some believe that shopping with the family has become an annual tradition, Murei says. “Part of celebrating Thanksgiving is that they go to bed or don’t get in line,” he says. “You find that people take their whole family or groups of their family members go and wait in line. and it’s as much of a Thanksgiving experience as sitting down and eating a turkey. ”
The connection extends even beyond the trading day. “A big part of the social aspect is that people share their experiences and showcase their purchases to their friends and families, and compare who had the best deals,” says Brannon.
Online shopping reaches out to those who don’t like the crowd
“Some people – more competitive and outgoing people – do well in personal shopping, while others prefer to avoid those crowds and shop online,” says Brannon.
Last year was a record year for online sales, with $ 1.33 billion spent on Thanksgiving and $ 2.4 billion on Black Friday. “Now that we have online shopping, those of us, myself included, who would rather just [stay at home] in comfort and have some hot chocolate that Friday or that Thursday night, we can order our gifts and conclude much easier. transactions. , – says Murey. “We still get the satisfaction of feeling like we got a good deal without the chaos.”
To create an experience that shoppers would not normally have on the Internet, retailers create flash sales with the anticipation and excitement of trying to get a limited product. “In a way, it’s the online equivalent of waiting in line and all the hype,” says Muri. “It’s basically a virtual version of that kind of excitement.”
Looking ahead to Black Friday can really drive you crazy
The shoppers you see on the news every year fight and have epic disruptions, usually the ones who put the most planning and effort into shopping on Black Friday . There are several reasons for this, says Murey, citing the dedication of those who shop for certain products or deals. Research has shown that shoppers tend to ignore and ignore crowds if they’re just browsing and shopping at their leisure.
“Alternatively, if we have a mission, for example, we have to get this product at this time, then suddenly this store with the same level of congestion becomes such a burden for us, and we are very sensitive to it, and this increases the level of cortisol. levels, ”says Murey. “It makes us more tense. There is something to say to people who have a mission – they are much more attuned and sensitive to things that get in their way, which is probably why you see people who have a list of them get angry and are playing. “
A shopper who has set goals and waits may also feel more interested in getting the deals they want. “I think this is where you can see more of this aggressive behavior,” says Murei. “It’s more of the physical nature of rushing through the crowd, but there is also a greater sense of loss associated with standing in line, running around the store and not getting what you came for.”
Good Deals May Even Lure Black Friday Scams
Even those who publicly condemn Black Friday weekend consumerism might not mind taking advantage of a few deals. “People often say one thing and do another,” says Murey.
When asked, “Is the Thanksgiving family pastime more important than waiting all night to go shopping?” Murey says there is a “socially normative” or expected response. “Everyone or nearly everyone will say, ‘Sure it is,’ but when it comes down to it, many of those who said ‘of course yes’ will queue up that night with their hot chocolate, expecting to go broke. at Best Buy. “
It’s fun (for some)
There are people who truly hate Black Friday and never come to shop. But for those who like it, “they do it for reasons they like, whether it’s a competitive component, a social component, or [or] just excitement,” says Muri. “If you think about it, there is no other time during the year when there was a group mentality around shopping. So there is experience in this regard once a year. “
Readers, what do you think motivates people to shop on Black Friday the most? Do you feel involved in the seasonal hype?
10 Psychological Reasons We Go Crazy On Black Friday | DealNews