Shoppers Beware

With slim sales and a difficult economic environment lingering, retailers are trying many tricks and marketing gimmicks to get you into their store or web site page just to get that sale.  Coupons, promotions and markdowns are among the many tricks of the trade to lure shoppers.  The bulk of shoppers represents the female shopper, who remains the primary buyer for the family.  Interestingly, the average female shopper spends an astounding eight years in a retail store (or the equivalent of 25,184 hours and 53 minutes over a period of 63 years walking with a shopping cart or basket).  Source  That's not how many would like to spend their precious time on Earth or perhaps so since the number one recreation activity is shopping. 

With fewer Americans able to afford certain basics such as medical care or health insurance, it's a wonder that shoppers are tempted when entering stores.  Food, fuel and medical treatment are at a high.  With the world population at 7 billion and greater demand for food coming from developing countries such as China, prices for American basics are going up and will likely continue to rise in addition to inflation. 

What shoppers need to beware of is their personal money managment and that goes back to budgeting basics.  Know what you are going to buy from the store and stick to your list and/or budget the entire time you are there.  Markdowns are tempting, and impulse consumer spending is one way that retailers are hoping to spike their sales short term. 

Omit frivolous spending.  What I mean is for you to rethink your spending behavior.  Reductions in spending can include many things, and below are some suggestions to consider the next time you are in the store or online.

• Take a list of what you plan to buy and stick to it.
• Bring coupons and search for the better deal while in the store.  Yes, get out your calculator and stand there to compute the better deal.
• Ask yourself....Do you REALLY need this item? 
• Walk out of the store and leave the item there.  Sleep on it.  If you realize you need to make the purchase, then return to the store the next day only if this is okay with your budget.
• FREE is not necessarily free...there is a catch to it and sometimes it's more expensive to get out of it than it truly being free.
• If it's too good of a deal and you need to do more research, then walk away. 
• Do NOT let pushy salespeople convince you to make the purchase.  Walk away from them if it is too much harassment.  These people are desperate for sales and are being paid to be this way to you the customer.

The best advice for shoppers is to stay out of stores.  Research shows that the longer you stay in the store, the more likely you will spend money.  To protect yourself and your wallet, it is best to beware of yourself and your surroundings the next time you shop.  If you are tired, hungry or hard-pressed for time, it is probably not a good time to go shopping.  Buying the item with the intent to return it is not the best option because you must make a return trip, the refund may not be what you need financially, or you lose the receipt thus no proof of purchase. 

Beware of how your items are rung up at the cash register.  I was charged $70 for 7 heads of lettuce when I only purchased one.  Had I not caught the mistake, the cashier would have rung me out.  Paying attention to how your purchases are rung up is important.  One tip is to add up your items in the shopping cart and watch them being rung up.  Most of the time, there are no surprises this way.

Being vigilent when it comes to your money and how you spend it at the store will benefit you in the long run.  Beware and be safe in your shopping.  And as I always encourage folks, please buy Made In the USA.