NOVEMBER 25, 2022
Two tricks to avoid buyer's regret
How the Brain Works on Black Friday
I’m not sure about you, but I love Black Friday. It’s the perfect amount of time ahead of Christmas to get excited about the act of giving, whilst also feeling great about bagging a bargain or two.
In a recent excellent documentary about the pub chain Wetherspoons in the UK, the narrator started with the observation that “Wealthy people love a bargain, and poor people need one”. So true. But why?
It’s actually the fault of your nucleus ambens, the pleasure part of your brain. When it finds something you really, really want, it lights up. And when you find a bargain, this is akin to our ancestors on the hunt for prey to survive. Yup, it’s all part of our physiology.
Then when that thing that you really really want… is also discounted, you’ve got a major battle going on between the insula, the part of the brain that controls pain, and the medial prefrontal cortex, the rational part of the brain.
So when you go to the checkout, your brain does an internal calculation, summing up how painful it will be and how pleasurable the payoff might be. The more affordable the item is, and the more you want it, the more positively your brain reacts and the more likely you are to press that buy now button.
This is also why ‘buy one, get one free offers' are so attractive, as our brain focuses on the free one instead of the actual cost of the total transaction. This is also why retail shops play loud music in their stores to distract your brain from thinking clearly.
So, when you are shopping for a bargain, do it in a quiet environment and also make sure you have eaten first, as shopping on an empty stomach interferes with your ability to clearly judge whether it is actually a good offer or not.
So enjoy Black Friday, and if you fancy a bargain, you can get our Professional Therapist to Millions Professional Plan for an incredible $25 per month today only.
In the meantime, have a great week, learn heaps, love loads, buy sensibly, and then pass it on.
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