How does one harness human behavior to make one spend more than what one needs?
In this modern world, it is getting easier for one to fulfill needs. With a developing economy, increasing productivity will make a society produce more product for fulfilling social needs. Along with the improvement of social affluence, it improves the overall social purchasing power.
To facilitate money spending, online shops are developing at an unprecedented rate. One could easily find a promotion when one has open an online store. From there, one could easily purchase anything that one wishes. With proper control of spending behavior, one could spend much more than one realized.
Other than impulsive spending behavior, online shop developer also harnessing human behavior to increase their revenue. There are several methods: the usage of credit card, introducing limiting edition items, and simplify the user interface.
The usage of credit card is essentially supporting the development of online shopping. Some products are more expensive than what people usually can afford. A credit card enables one to trade off future purchasing ability with the current earning ability. With countless deals, credit card usage let people believe in their future payback ability, which is overrated.
Human is interested in something valuable. In other words, people find something limited is more precious and valuable. The seller is harnessing the buyer mindset of wanting to have a rare item, which is a limited edition. Due to the over-promotion of limited edition, products that supposed to be scarce is not scarce anymore. Therefore, people still fell into a “limited edition” trap.
Simplifying and beautifying a user interface is harnessing people desires on enjoying the beautiful scenery. People will tend to buy a good-looking item. People desires for beauty is incorporated into the online shopping platform. The tendency of human to enjoy beauty can let people fell into the trap of shopping.
In the end, the development of online shopping platform facilitates people to fulfill their needs of buying. With a careful mindset, one could enjoy the convenience offered and benefits at the same time. With careful observation, one could prevent an unwanted issue from shopping.
What act you could do to prevent yourself fell into the traps?