As Nov. 24 approaches, so does one of the biggest shopping days of the year—Black Friday.
While it’s renowned for its deep discounts and doorbuster deals, did you know there’s a fascinating psychology behind the shopping frenzy?
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Black Friday stands as one of the busiest shopping days of the year. On average, Black Friday shoppers spend $313.29 on sale items. Surprisingly, 70% of this spending is devoted to gifts for others, while the remaining 30% is self-indulgence.
Black Friday is more than just a quest for savings. Psychologists assert that it triggers an adrenaline rush. When shoppers race to secure limited deals, their brain’s reward centers are activated, releasing dopamine, the feel-good neurotransmitter.
Beyond mere savings, Black Friday serves as a social experience. Friends unite in a shared mission to secure a deal or find the perfect gift. Also, the fear of missing out (FOMO) propels many to join the frenzy.
Retailers use various tactics to capitalize on these behaviors. Limited-time offers, countdown clocks, one-day-only specials, and doorbuster deals create a sense of urgency. This tactic, known as the “psychology of scarcity”, is maximized to the fullest on this day.
To ensure you don’t overspend during the frenzy, consider bringing a thrifty shopping buddy and avoiding shopping momentum. Stick to your list and, if possible, refrain from taking a basket. Limiting yourself to what you can carry will naturally result in purchasing fewer items.
Whether you’re shopping for others or treating yourself, remember that on Black Friday, the true treasure lies in the experience itself. The day is not only about acquiring goods but also about the excitement, camaraderie, and sense of accomplishment that accompanies it.
Experts also suggest planning an alternative activity, away from stores and screens, to keep yourself occupied during the day. This approach helps divert attention from the shopping frenzy, allowing for a more balanced and mindful experience.