Rachel Feltman: Thanksgiving is almost here, and that means Black Friday sales have already started. What used to be a post-turkey American tradition has now become a global phenomenon. If you’re feeling the urge to splurge this week, you’re not alone. These sales are designed to lure you into a shopping frenzy.
Today, I’m joined by Cathrine Jansson-Boyd, a professor of consumer psychology at Anglia Ruskin University. She’s here to shed light on the psychology behind Black Friday shopping and offer tips on how to protect yourself and your wallet.
Jansson-Boyd explains that consumers are drawn to discounts because we are conditioned to focus on price. When we see a bargain, our brains release adrenaline and pleasure hormones, making us more likely to make impulse purchases. Retailers use tactics like creating a sense of urgency with messages like “last three items left” to trigger the fear of missing out, pushing us to buy quickly.
Black Friday has become a global event, and while people are more skeptical of the deals now, marketers are working harder to entice shoppers. Jansson-Boyd advises consumers to make a list of what they need, compare prices, and avoid getting swept up in the frenzy by taking breaks and giving their brains space to make rational decisions.
She also suggests that if you have doubts about a purchase, step away and give yourself time to think it over. Impulse buys during sales often lead to regret, as studies show that people feel more remorse after purchasing something they were unsure about. By being mindful of your spending and making informed choices, you can avoid buyer’s remorse and make smarter shopping decisions.
So as Black Friday approaches, remember to stay mindful, make a list, compare prices, and give yourself time to think before making a purchase. In the end, it’s about being a smart and conscious shopper to protect your wallet and your peace of mind.
