NASHVILLE, Tenn. (WKRN) – As prices for everything rise, consumers are pulling back, according to smart shopping expert Trae Bodge.
“Retailers have so many different tricks to kind of urge us to overspend and this year, in particular, I’m sure they are pulling out all the stops,” Bodge said. “If we only have a limited amount to spend, they want to kind of grab up as much of that as possible.”
Big colorful signs announcing sales and items strategically placed near checkout are typical this time of year, but there’s a newer tactic becoming popular, causing pressure to purchase.
“We sometimes see that other people are looking at the item, or there’s only five left and so these are the things that make us potentially jump on something when we should pull back and take a beat,” explained Bodge.
It’s hard to tell if these numbers are accurate. Retailers are known to play into our fear of missing out. Coding can simply generate a random number for websites and update every few minutes, which gives the appearance more people are shopping than they actually are. While some stores may be telling the truth as a consumer, there’s no way to actually know.
That’s why Bodge said it’s important to decide if this is a good deal for yourself.
“Sometimes we see that retailers will make a deal look much bigger than it is by raising the price or lowering your price and saying that it’s a great deal or it’s the best deal ever,” she said. “But I really strongly recommend that consumers take ownership of that decision and do some research.”
One way is using a tool like PayPal Honey.
“You can install this on your phone, tablet, or laptop, and as you browse, it’ll pop up and if you click on it, you will see whether this is a good price right now or not,” Bodge said.
If the item isn’t priced at it’s lowest, take steps to add it to your wish list.
“You can add it to the PayPal Honey drop list,” Bodge said. “And you’ll be notified when that goes on sale. That way you know you’re getting a great deal.”