How to Become a Smart Shopper Amid Cyber ​​Monday Hype | Personal Finance








Getty Images


Bev O’Shea

Last Cyber ​​Monday, I rushed to pack a hot sale BBQ into my virtual shopping cart. I texted my daughter to make sure my son-in-law really wanted it as this deal was non-returnable for a limited amount. I entered my credit card number as soon as she responded. Moments later, I got an email: “Sorry, sold out.”

I didn’t have a grill, just someone who was counting on getting one. I bought the grill but for more than double the price of the deal I missed.

Welcome to FOMO. Fear of missing out has become one of the big marketing tactics of the holiday season. Scarcity – a limited quantity, a small window of time – pressures consumers to act quickly for fear of missing out. To resist that impulse, it can help to decide ahead of time about spending limits, whether to buy a non-returnable item, and other guidelines before adrenaline and emotions kick in.

Besides recognizing FOMO, there are other ways to be a savvy shopper on Cyber ​​Monday, the Monday after Thanksgiving (November 29 this year), often the last hurray for Black Friday deals.

Be realistic about possible delays

Jane Boyd Thomas, a marketing professor at Winthrop University in South Carolina, thinks gifts that don’t show up in time for the holidays could be the story of Cyber ​​Monday 2021. She expects many people to be disappointed when they get a receipt and even a shipping notification, only to be told days later that the shipment has been delayed. Some retailers have both in-store and online deals, and you may be able to avoid shipping altogether. If not, consider printing out a product photo and gift wrapping it.

.

Leave a Comment