10 Clever Tactics Retailers Use To Get You To Spend That Money

    When retailers figure out how your mind works to get you to spend more.

    You work hard. Maybe you toil all day at one job — or maybe you juggle three. Then when payday rolls around, it seems harder than ever to hold on to that money. I get it. The temptation to spend might feel intense — a trip to Target is an escape from feeling pent up during the pandemic, or checking out deals from your favorite online retailer provides a welcome respite from doom scrolling on Twitter.

    Let’s take a look at behavioral economics (which is the study of why our spending and saving decisions might be less-than-rational) to uncover the sneaky ways retailers get you to part with your cash and what you can do to beat the system and spend less:

    1. Anchoring

    2. Goldilocks Pricing

    3. Loss Leaders

    4. BOGO

    5. Spaving

    6. Free Shipping

    7. Limited Time Offers

    8. Removing Friction

    9. Pricing psychology

    10. Layout of the store

    Is there anything we missed? In the comments, share a retail tactic that's gotten you to spend more than you planned!

    And for more money-saving tips and tricks, check out the rest of our personal finance posts.