You’ve probably heard of impulse buying, but have you also heard of slow shopping?
No, shopping doesn’t take hours, but the concept has something to do with time.
Savings expert Andrea Wollock says the idea behind shopping slowly is to wait longer before making a purchase, which could mean buying later or not buying at all. It states that there is.
“Slow shopping ultimately focuses on taking your time to make purchases, rather than making impulsive purchasing decisions or buying something just because you saw it on the spot.” Wollock told USA TODAY.
Consumers plan to shop slowly this holiday season
In a survey provided to Affirm by Talker Research, provided exclusively to USA TODAY, nearly three in four consumers (73%) say they are taking a slow shopping approach during the holiday season. Additionally, three in five (60%) consumers say they are leaving earlier, taking smaller trips more often and being careful about what they buy this year.
When asked why they were slow to shop, consumers pointed to values and intent, Affirm said. Affirm is a buy now, pay later provider, also known as buy now and pay later.
More than one in two consumers (53%) say they shop slowly to ensure they only buy the items they really want, and more than one in three (36%) say they buy items in advance They answered that they would have more time to research. Compare different brands and styles. At the same time, more than half (51%) say they shop slower to take advantage of more sales and promotions.
According to the Talker/Affirm survey, nearly 70% (68%) of consumers plan to spend the same or more than last year and are well aware of the increased costs. More than one in three (34%) cited inflation as a reason they expected to pay more for the same number of gifts.
The National Retail Federation (NRF) recently announced that it expects holiday sales to increase 2.5% to 3.5% this year compared to last year.
Consumers’ holiday spending reached an all-time high of $902 per person on average, including gifts, food, decorations and other seasonal items, the retail group released Tuesday in its latest holiday consumer spending report. He said it is expected that this will happen. That’s about $25 per person more than last year’s numbers and $16 more than the previous record set in 2019, according to the NRF.
According to research from Talker/Affirm, consumers use a variety of payment methods when making purchases.
More than half (55%) of consumers prioritize finding the best deals and getting the most value. Half of consumers (50%) think 0% APR financing options are as good or better than traditional discounts. More than half (53%) of consumers use pay-as-you-go options to increase the cost of their purchases. Affordable price. The second most popular reason for choosing it is that it’s a helpful option for budgeting (52%).
There are various characteristics of slow shopping.
Taking the time to shop gives consumers enough time to think about their purchases, evaluate their value, afford them, and compare prices, Wolloch said.
“It really just gives you enough time to make the best purchasing decisions and save the most money,” she said.
Whether you shop slowly or not depends on when and when you make purchases, Wolloch said. For example, if you’re buying a new bed, you might spend a month comparing and figuring out what you want, she said.
Holiday shopping: Why new research predicts shoppers will spend more this holiday season
Or you might just do it on a whim, she says. If you go into the store to buy groceries and see a shirt you’re interested in, don’t pick it up, put it in your cart. Please consider making other purchases and coming back again. If not, it wasn’t necessary, Wollock said.
What are the disadvantages of late shopping?
If your child wants a popular toy for the holidays, the slow-shopping approach may not work, Wolloch said. The most popular toys are typically not discounted more than 30% during the holiday season, so if you find a great deal, you might want to buy the item before it sells out, she says. I did.
Wollock said shipping delays can also affect your gift if you wait too long to make a purchase.
Are you an impulse buyer?
The opposite of slow shopping is impulse buying, or buying things you didn’t plan on buying.
Retailers have become very good at influencing our purchases with various strategies, such as limited-time sales. Social media influencers and targeted advertising are also increasing the likelihood of impulse purchases, Wolloch said.
Wollock says it can be helpful to create what she calls “purchase hurdles” to delay impulse purchases.
“When you make something more difficult, you’re less likely to make an impulse purchase,” she said.
This includes disabling One-Click Shopping on your phone or computer, removing payment cards saved in your account and requiring you to physically retrieve the card to make purchases, and disabling One-Click Shopping on your phone or computer. If you go to a store to pick it up, this includes choosing to: She says she uses curbside service to avoid walking into a store and buying more than she intended.
Tips to shop slowly and save money
Here are some tips from Woroch to help you save money while shopping slowly.
Create a budget and stick to it. Set a realistic budget for your vacation, including travel, and create a gift list. Stick to it and talk to your friends about gift limits. Check for price adjustments. When purchasing something, check the store’s price adjustment policy. If the price goes down, you may be able to get some money back. Layer coupon codes and offers. Use your extra time to find coupons and freebies by signing up for the store’s email list or mobile alerts. If you have rewards saved from your credit or debit account, use them. If you sign up for a free trial, shipping may be free. Some retailers offer special membership programs that include free shipping during the trial period. Sign up to take advantage of these offers. If you don’t want to continue the trial period, remember to cancel it before it ends, Wolloch said.
Betty Lin-Fisher is a consumer reporter for USA TODAY. Contact her at blinfisher@USATODAY.com or follow her on X, Facebook, or Instagram @blinfisher. Sign up here for our free The Daily Money newsletter, with consumer news on Fridays.
