Your Brain on Shopping: 9 Surprising Insights
Have a think on the last thing you bought recently: Was it a spring coat? A dress for a friend’s wedding? New rainboots? Whatever the case, chances are you bought the thing because you either wanted or needed it—at least that’s what you think, right? Turns out our motivations for purchasing any given item are far more complicated. We might think we’re operating on our own agency, but the truth is that there are a number of factors that make us spend money. Consumer psychologist Dr. Kit Yarrow explores a number of them, from anxiety and loneliness to FOMO and eBay in her new book, Decoding the New Consumer Mind. Here, a look at the most surprising. It’s enough to make you think twice before you swipe.
‘Retail therapy’ is a real thing. Cher Horowitz was on to something. According to a study cited by Yarrow, “62 percent of shoppers had purchased something to cheer themselves up.” Why? Because it works. According to Yarrow, shopping’s psychological benefits range from relaxation and escape to increased confidence.
Shopping helps us mentally prepare for the future. According to Yarrow, people use shopping to decrease anxiety about upcoming major events or life transitions. (That’s why you never shop more than when you’re getting married or having a baby and getting married.) Explains Yarrow: “As people shop, they’re naturally visualizing how they’ll use the products they’re considering, and in doing so they’re also visualizing their new life….The purchases themselves are only part of the allure; the preparation of shopping and visualizing makes people feel a greater sense of control and less anxiety about these big transitions.” This might also explain splurges before the first day at a new job, or before going on a far-flung vacation. It’s kind of like how athletes use visualization techniques to prep for a big game—except this costs money.
We love the sale rack because: FOMO. As humans, we’re hardwired to avoid loss; that’s why we’re far more likely to regret the things we didn’t buy than the things we did. That fear of regret—or FOMO—is one of the reasons why typically gun-shy shoppers might pull the trigger on a heavily discounted item, which, according to Yarrow, “carry a perception that there are limited quantities or that there is a limited period of time to purchase.”
eBay is making us buy more. “Over three-quarters of women consider the resale value of what they’re purchasing before they buy,” says Yarrow. Not necessarily a bad thing, except we’re using that information to justify all sorts of questionable buys.
We’re suckers for the number 9. This one’s just plain weird: “Multiple studies have shown that people think that products ending with the number 9 are a better deal. Of course, it also discounts the value of the product. For example, a full-priced luxury item priced at $6,799 would be perceived to be discounted and consequently less valuable than the same product priced at $6,750.”
As shoppers, we’re kind of the worst. According to Yarrow, shoppers are becoming increasingly demanding, impatient and rude. Witness this: “A one-second delay in the time it takes to load a web page typically results in a 7 percent reduction in purchases.” Or this: “Rasmussen Reports found in 2012 that 76 percent of Americans believe that society is becoming ruder and less civilized.” And if a store does piss us off: You can expect to hear about it on Twitter, Yelp and Facebook.
‘Aspirational’ is so 2005. Says Yarrow: “Today’s consumers are less interested in aspirational brands; rather than admiring brands, they’re more interested in brands that admire them, know them, and serve them.”
We make riskier decisions when lonely or faced with too much choice. When it comes to shopping (or boyfriends), an abundance of choice sounds like a good thing but, according to Yarrow, when overloaded with so many options, we tend to make riskier decisions (i.e. those flared leather pants you bought from Zara; that weird dude you dated in college). We also tend to feel less happy with what we’ve bought (see also: those flared leather pants from Zara; that weird dude you dated in college). Another thing that gets us reaching for cool-but-impractical items? Loneliness and isolation, which, according to a recent study, corresponded to increased financially risky behavior and an appetite for gambling.
The more time we spend shopping for an item, the more we think it’s worth. Chances are if you waited two hours in line to get your hands on that coveted Isabel Marant for H&M collection you bought more than you normally would have. That’s because the more time you spend in pursuit of a particular product, the more your resolve to buy it increases—and the more you unconsciously perceive it to be worth.
Related: The Saudi Princess and the Multi-Million Dollar Shopping Spree
