Skip to content
  • How to avoid impulse shopping on Black Friday

    Fortune - 11/26/2014

    A lot of our decisions boil down to short-term gain versus long-term gain, says David DeSteno, professor of psychology at Northeastern University. “Do I want to feel good in the moment versus do I want to sacrifice in the moment for long-term gain in the future? Most people would prefer to take $20 now versus $100 in a year. When you quintuple the money, you would logically think [people would go for it but instead they] tend to want immediate gratification. In some ways that makes sense, but we do it to such an excessive level that it becomes illogical.”

    Viewed through that window, the fact that millennials are significantly more likely to buy on impulse than seniors starts to make sense. “The younger you are, the more time you have in front of you,” says DeSteno, who believes it makes sense. “So it tends to make us think: I can have this money now or I can save it or invest it in my IRA, but I’m not going to see that for a long time.”

  • Cookies on Northeastern sites

    This website uses cookies and similar technologies to understand your use of our website and give you a better experience. By continuing to use the site or closing this banner without changing your cookie settings, you agree to our use of cookies and other technologies. To find out more about our use of cookies and how to change your settings, please go to our Privacy Statement.