Holiday shopping season comes up with some extra load of purchasing on your pocket. According to a recent survey of Deloitte an Average American spends around $1,536 during holiday-season.
Around 51% of shoppers just buy gifts during normal holiday purchasing. 2018 forecast by Deloitte survey predicts a mix of Online and in-store shopping with a lead of 66% to in-store buying.
On the other hand, Statista also shares projected sales for 2018 e-Commerce holiday season sales. According to this report, it is expected that revenue will reach USD 123.73 billion during this season.
Here are some reasons which can lure a buyer to spend more whileshopping but you can control yourself by using simple techniques.
Shopping in Store
It can be your mistake when you step into the store for physical buying. It is a normal routine ofsupermarkets to use persuasive lines to tempt you in buying for which you arenot on the turf.
“You just visit to buy some coffee for your elder brother,but different sections in market bombard you various discount offers for toys,kids items, and other things. Finally, the resultis that you come up with a full shopping trolley at the payment counter.”
Tip: If you come up with such a situation then be focused on the items for which you are actually there. Otherwise, avoid In-Store purchasing and use online shopping.
Don’t Flow with Emotions
People often spend more while failing to handle their emotions properly. Let’s say you just buy an item for someone while expecting some affection or love from them.Says Dr. April Lane Benson – a Psychologist
To overcome this issueDr. Benson says you should ask some series of questions like;
- Do I need this?
- What if I don’t buy it
- How can I Pay for it
- Where will I put it
Focusing on Wrong Items
Selecting wrong items or overemphasizing on it to increaseholiday felicity.
Our study shows that people normally tailor their Christmas season around spending and buying things. Such things actually lower the consumer well-being they experience during Christmas time.Says Tim Kasser – Professor of Psychology at Knox College
Kasser adds that TV,Radio and other media advertisements givea very loud message which repeats for a long time that a good Christmas dependson shopping and that happiness is obtained via shopping.
TIP: Focus onunconventional gifts. Kasser suggests preferring non-monetary presents along withtraditional gifts which can includevouchers, coupons or anything else.
When to Stop Shopping
While shopping in the store desire to buy more increaseswith time and you may want to buy every item with an offer. But this in returnwill give a big burden on your pocket while paying the huge bills. This happensnormally in the absence of a plan beforevisiting the market.
People normally add things in the list after looking at anattractive Price-Tag or an Offer. While some may feel good when spending huge money.
Tip: To overcomethis problem just make a budget before visiting the supermarket and then stick around that list while visiting thestore. This can be the best adoption to keep a capon overspending while buying during holiday season 2018.
It can be a reason forexpensive shopping which can smash your budget this holiday. People oftenpostpone shopping and result come withhigher prices due to the shortage.
Last minute shopping will always go more expensive and will go over your budget.Says Daine McCrohan – an associate professor in College of Business at Johnson & Wales University.
“Time shortfall may lead you to select items in hurry, whichagain can have adverse effects.Furthermore, shipping cost may also go higher at last-minute buying.”
Tip: McCrohansays, that people may postpone shopping in hope to snap last-minute deals mayactually end-up in spending more. Because, store owners know that there areplenty of shoppers waiting for last-minute deals so, they may want to increaseprofits by not putting things on sale.
Projected ConsumerSpending Breakdown for Holiday 2018
The average consumerspends $1,536 during the holiday seasonwhich further splits up under various heads. According to Deloitte surveyconsumer will likely to spend $525 for gifts and gift cards. While an amount of$611 is spent for entertaining at home or for social activities away from home.Furthermore, consumers are likely to spend $400 for non-gift items this holidayseason which can include clothing, furnishing, andother items.