Placeholder Image

Subtitles section Play video

  • Transcriber:

  • Worldwide, online retail has been on the rise.

  • In 2019 alone,

  • shoppers spent nearly 3.8 trillion dollars online.

  • And to keep those figures climbing,

  • some companies are pulling out all of the stops

  • to hold your attention and to keep you spending.

  • To help you regain control of your shopping environment,

  • I'll identify three of their tactics

  • and share three tips to counteract them.

  • [Your Money and Your Mind with Wendy De La Rosa]

  • One online gimmick that sites use is gamification,

  • and this is where websites use game design elements

  • to get you to spend more time and more money on their sites.

  • Now, some sites have a virtual wheel for you to spin

  • to get a chance at that day's discounts.

  • Others, they let you accrue loyalty points

  • based on how you interact with the site.

  • And that kind of gamification, in my mind, is really dangerous.

  • In one classic experiment,

  • lab rats were more captivated by the random chance of pushing a lever

  • and receiving a food pellet

  • than by the certainty of a fixed food schedule.

  • And we as humans are just the same.

  • We're enticed by the chance to win.

  • Just like at a slot machine in Vegas,

  • you increase your dopamine levels every time you try your luck.

  • So my tip here is to avoid temptation altogether

  • by unsubscribing from online shopping emails.

  • You can't buy what you can't see,

  • and these emails are constant reminders

  • that are intended to lure us back to the site

  • with its gamifications and its gimmick,

  • when you'd otherwise not be thinking about them.

  • A second tactic online retailers use is scarcity.

  • Many sites now tell you

  • how many other customers are also viewing the same item,

  • making it seem like that item is very popular,

  • and it's likely to go quickly.

  • Similarly, websites will use a timer for your basket,

  • pushing and pushing the message

  • that these potential items won't be available for long.

  • Research shows that the perceptions of a product's scarcity

  • can increase its value in the eye of the shopper

  • and increase a shopper's willingness to buy.

  • Scarcity can also make people feel more competitive and selfish as well.

  • So here's my tip to help you combat scarcity:

  • when scarcity is tempting you,

  • back away from the website, back away from the car

  • and sleep on it.

  • That can help you decide whether or not you really need

  • whatever it is that you were planning on buying.

  • Leave the site for at least an entire day

  • and see if you're still itching for the item.

  • This approach works best if you use an incognito browser

  • so you won't be haunted by the ads for the product

  • everywhere you go.

  • The third tactic that companies use

  • is to allow you to pay in installments.

  • A number of e-commerce sites have adopted payment schemes

  • that will let you order an item and pay for it later.

  • Now, installment plans are useful

  • if you're replacing a large, expensive item,

  • like a broken refrigerator.

  • But I think these installment plans veer towards predatory

  • when you're purchasing less urgent, less important items.

  • Looking at small monthly payments

  • psychologically decreases the cost of those new sneakers

  • or new pair of jeans.

  • And that mental trickery

  • means that you're more likely to buy additional items.

  • And while it may feel different from a credit card,

  • you still owe these companies money.

  • So at the end of the day, you're still taking on debt

  • and potentially adding late fees and interest,

  • and you may find yourself owing a lot more

  • than the original sticker value for those jeans.

  • So here's my third and final tip:

  • above all else, do not use these payment installment plans.

  • If you want an actual discount,

  • there are browser plug-ins you can use

  • that will help you find the best deals.

  • Online retail has made shopping incredibly convenient,

  • but not every day needs to feel as overwhelming as Black Friday.

  • By putting these tips into practice,

  • you can tune out some of the tricks and the gimmicks,

  • and once again, regain control of your shopping environment.

Transcriber:

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 TED scarcity item online shopping installment

3 sneaky tactics that websites use to make you spend | Your Money and Your Mind

  • 6 1
    林宜悉 posted on 2021/03/03
Video vocabulary