Have you ever experienced an inexplicable sense of excitement to purchase a product that you've just seen while scrolling on an e-commerce platform? And what luck because it's 50% off until today. Seems like the universe is trying to persuade you right? So without even thinking twice, you decided to purchase that product. But right after you click that 'place order' button, you regret it instantly. That my friend is impulsive online buying. E-commerce platforms have used strategies that will make a shopper buy on impulse which makes it even harder to resist, so here are some tips that you can use to avoid impulsive buying on an E-commerce platform.
Don't spend the money that is not in your hands yet - Impulsive buying occurs during seasonal sales where the price of a product is less than its original price. Further, e-commerce platforms offer a limited time promotional discounts which brought the customers to go on a shopping spree. Customers tend to borrow money just to finance their excessive spending but then have a hard time paying their debt. To avoid this scenario, you must not spend the money that is not in your hands yet or something you haven't earned yet. It is a lot more satisfying to purchase something when you know that you are using the money you've worked hard for right?
Know what's essential - Online shopping has become an integral part in today’s time due to its convenience. Hence, more consumers tend to use and purchase on various e-commerce platforms impulsively. For this reason, assessing the value and the benefit of the product must be conducted first and foremost before making a purchase. When you sense that you're having the urge to buy something that isn't essential, stop and do the so-called Seven-day Rule for Expenses. Give yourself seven days to think about it thoroughly before deciding to purchase them or not. Ask yourself, Do I really need this product? What will I benefit from this product? You need to ensure before clicking the 'place order' button that the product is essential.
Spending less than what you earn - Understanding yourself is essential to understanding the way a person handles their money. Feelings play a vital role in why people buy and it is important to think about these ahead of time. Ensure that the amount you spend is less than the amount of what you earn. Compute the average days/hours you'll have to work for just to earn the money to buy that certain product. That way, you can examine if what you're really purchasing is worth it. Being a logical shopper gives a person a chance to avoid impulsive buying.
Budgeting - One of the key actions to create a discipline in oneself towards shopping on e-commerce platforms to avoid any unnecessary purchase. Create a budget plan and stick to it whenever making a purchase online to be able to track financial records and save up from unwanted and unplanned purchases.
Easier said than done, right? These tips are surely effective and will pay off in the long run. Being a more logical shopper can instantly change your mindset, so think more rationally and put the brakes on an impulse purchase.