BLACK FRIDAY 2019 SALES PSYCHOLOGY – BEFORE YOU BUY ANYTHING…WATCH THIS!

BLACK FRIDAY 2019 SALES PSYCHOLOGY – BEFORE YOU BUY ANYTHING…WATCH THIS!

November 9, 2019 4 By Kailee Schamberger


Black Friday 2019 is fast approaching and
as a result sales will skyrocket at the end of this month as people splurge on new products. Now while I advocate taking advantage of the
sales if it saves you, I do urge you to stay cautious and avoid falling into spending traps
set up this time of year. If you’re interested in psychological tricks
sellers will use on Black Friday, then this video will help you identify these and avoid
making some poor buying decisions this year. So with that said, let’s look at some psychological
tricks used during Black Friday… 1. Add Buying Pressure
– The first is the most commonly used tactic during Black Friday and that is to put pressure
on the consumer to decide on whether to buy or not
– It’s quite simple, Black Friday deals run for a very limited time, whereby deals last
for a few days only in the best case scenario and no items on sale are announced early
– What this means is as soon as the consumer becomes aware of a deal, they immediately
come under pressure as to whether they should buy or not
– With the clock ticking, buyers will often think through purchases less, not checking
if it really is the best deal, whether they need the product or whether they’ll use the
product, and the reason leads us to the next point 2. FOMO, or the Fear of Missing Out
– FOMO is a concept that’s prevelant in today’s society, especially with the advent of the
Internet, as people are more aware of possibilities available to them than ever before, but also
therefore don’t want to miss out on them – This same principle is used as a sales technique
time and time again, and Black Friday is an ideal opportunity for companies and sales
people to apply it – After all, Black Friday deals are often
marketed as the best deal you’ll possibly get and one that isn’t likely to come round
again, certainly not in the short term – This goes back to the previous point, where
consumers are placed under pressure and don’t want to potentially miss out on an amazing
deal, but it’s critical to be aware sales are frequent today and chances are you will
get a similar opportunity in the near future 3. Evoke Consistency
– You might think Black Friday comes and goes each year and is a one time deal, but in reality
it’s actually incredibly well thought out and marketed
– For example, many people in various industries will start talking about Black Friday early
on, capturing interest on deals you might be able to get when the sales occur
– From there, they will slowly buy in your trust and use a method of consistency to increase
potential spending, initially in smaller sales before they build up to the main day
– Amazon is a great example of this, as if you go to their site today you’ll be shown
a number of icons for sale items, all in red to help them stand out, and in the coming
weeks you’ll see more sales coming to the site, particularly flash sales of small items
t get the selling ball rolling, before we reach Black Friday, which is when they’ll
advertise the biggest items available for amazingly low prices. – All of this works together to start consumers
to start getting into the habit of buying early, and all of it will be marketed as seasonal
purchasing, which most people will accept as the norm 4. Build Social Proof
– Companies will work to try and get you to buy their products by developing social proof
to show they’re in demand and therefore worth looking at
– This is because humans naturally have a tendency to conform to mass behaviour, meaning
if people see others buying from a particular place or a particular product, they themselves
are more likely to do the same – Therefore, many companies will target markets
by building influence and social proof that they sell the best products and at the best
price, often by working with companies that have an infuence, or in today’s world, directly
with influencers online – While they don’t always do it Black Friday,
Nintendo is the perfect example of this in the gaming industry, as when launching a new
product they traditionally release limited numbers and select retailers
– This results in long queues at these retailers when the product launches, resulting in it
appearing as a product in incredible demand when reported to the mass market 5. Offering Perceived Low Prices
– So there are two elements to factor here, that is the sale price and the perception
of value from that sale price, as this can have a huge influence on the deal that people
think they’re getting – First with the sale price, a product might
be marked as extremely low, at a discounted rate where you save 50% or more when you purchase
it on Black Friday – Now without getting into the legalities
of the marked price, what’s usually worth noting is that while the product is discounted,
the product itself might be regularly put at sale prices through the year and thus might
be available on deal a number of times – This leads to the second point, the perceived
value you might be getting, as on Black Friday companies will often extensively market the
deals as a one time only thing, increasing the value of the deal you’re getting and thus
more likely to pressure you into buying, which when combined with the previous points, is
significantly likely to increase your chances of spending
– All in all, I’m not saying to avoid Black Friday, as you may get some genuinely excellent
deals. However, understand that companies do use
many psychological marketing and sales techniques to pressure people into buying items they
don’t need. So think clearly, really check the value of
the deal you get and spend responsibly. Have you ever fallen for any of these when
buying in the past? Let me know in the comments section below. Please Like, Share and Subscribe as we help
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