We have all encountered such a situation: you enter a store with the intention of buying one item and end up with groceries and items overflowing from your trolley. It was found that impulse buying makes up 40% of all e-commerce spending and that the average consumer makes 9.75 impulse purchases every month.
Impulse buying can be a real budget killer; if not controlled, it can wreak havoc on your financial plan. But what if we told you there is a way to defeat those impulse urges and become an intentional shopper? Enter the art of unshopping: a conscious way to spend less by shopping smart. And for bsmart members, it gets even better: you can still get what you need while earning cashback on your purchases. Let’s explore how!
The psychology of impulse buying
Impulse buying is driven by emotions rather than necessity. Retailer tricks include advertising through sale signs, product placements, and limited-time offers, stimulating a "buy now, think later" reaction in customers. Let us look at some psychological reasons triggering such unnecessary buying:
- Instant gratification: New purchases, like new clothing or a new cell phone, is exciting and makes you feel good temporarily.
- Fear of Missing Out (FOMO): Seeing a “50% Off Today Only” sign fosters a sense of urgency leading to purchasing the item out of pressure.
- Retail therapy: Shopping is one of the most common ways people beat boredom and/or cheer themselves up.
- Social influence: Peer pressure is real and people often feel pressured to purchase new “trendy” items to fit in.
The good news? You can start ‘unshopping’ and take control of your spending.
Tips to avoid impulse buying
- Make a shopping list and stick to it
A shopping list is the best defence against impulse buying. Before heading out to shop or online shopping, jot down exactly what you need next. If it's not in the product list, it doesn't get into your cart!
- Follow the 24-hour rule
If you see something you want to buy, hold that thought for a moment, and leave it for 24 hours before purchasing it. This time-out helps clear the threshold of whether it is a need or whether it was just a short-term excitement towards it.
- Set a budget and track your spending
Determine what you can afford before shopping. The bsmart card comes in handy here because if you have unexpected expenses that disrupts your budget, the bsmart card can be used to cover those.
- Use your bsmart card for essential purchases
Shopping smarter doesn’t mean you have to stop shopping altogether. Your bsmart card gives you cashback for buying necessary items like groceries, household basic items, and clothes. You spend cash on what's necessary and get a reward in return.
- Unsubscribe from marketing emails and social media ads
Tempting deals are sent straight to your inbox and social media feeds from retailers. Reduce such temptations by unsubscribing to promotional emails and restricting your browsing time to shopping-related content.
- Shop with a purpose, not emotion
Ask yourself: Do I need this or do I just want it? Just keep still for a moment and question whether the purchase is going to benefit your financial goals. If it's a need, then go ahead and buy it, but if it's just as momentary as a desire, just leave it.
bsmart: Your partner in smart shopping
Being a bsmart member isn’t just about convenience—it’s about financial wellness. By swiping your bsmart card on essential purchases, you not only keep your spending in check but also earn cashback, making every rand work harder for you. The key to mastering the art of ‘unshopping’ is making intentional purchases, and with bsmart, you can shop with confidence, knowing that you’re getting value back.
So, the next time you shop, do it mindfully. Train yourself to resist impulse purchases, use your bsmart card wisely, and watch how much you save while still getting what you need. Happy smart shopping!