How to defeat the impulse buy
The New York Times - 11/21/2014
As Thanksgiving approaches, so does the holiday shopping season. Once again, a day traditionally meant to celebrate gratitude will inaugurate a month of rampant consumerism.
As a psychologist who studies decision making, I’m acutely aware that marketers know how the mind works, and they aren’t hesitant to use that knowledge to stoke consumers’ desires and lessen their self-control. Tactics emphasizing scarcity (“only 10 televisions at this price in stock”) and delayed cost (“0 percent interest until 2016”) are employed to great effect.
Such tactics prey on one of the mind’s greatest vulnerabilities: the innate human preference for rapid reward, or immediate gratification.