It was in 1887 when Coca-Cola introduced the first-ever coupon. And it has since shaped consumer consciousness on product promotions.
Even the stingiest person can be susceptible to a significant discount. There’s just something so attractive seeing a half-the-price promo even if you don’t need the item on sale. Why is that? Read on to find out why promotions and discounts are so attractive because you might just find yourself availing of the Home Depot cash back promo we have in store for you.
The Fear Of Missing Out
What’s appealing about discounts is that they are usually offered for a limited time only. And since it doesn’t happen often, it is anticipated. And as with many anticipated things, it’s something that people don’t want to miss out on.
Admit it, for many of us, just the thought of missing out on a good offer is enough to put us in a bad mood, especially when we don’t know if there will be another promotion soon. With many studies relating the attraction to discounts, this is psychological to Sigmund Freud’s Pleasure Principle wherein people seek pleasure and avoid pain. People like discounts and will try to avail of them if only to avoid the pain of missing a good bargain.
One of the main factors why a promotion works is that you get to save by not paying for the original price. Whether the purchase is essential is for a different discussion, but for the sake of this article, let’s assume that it is necessary or will be required for the near future.
But more than just saving, discounts and promotions sometimes come with incredible bundles! And who doesn’t love a good freebie?
A sign displaying the 50% discount offer is probably enough to get you browsing through the selection, as would a sign banning a Buy 1 Get 1 promotion.
Another attention-grabbing word when it comes to promotions is ‘FREE.’ People love the concept of getting items without having to shell out money. In other words, an attractive promotion has a lot to do with wording.
It Brings Happiness
We already know this— especially for shopaholics. But there’s a study that proves how discounts bring happiness to customers. In 2012, Dr. Paul J. Zak, professor of Neuroeconomics at Claremont Graduate University, conducted research to learn how coupons impact people’s happiness, health, and stress. Discounts had a direct impact on the increase of oxytocin levels, more known as happiness hormones. The study also reported lower respiration and heart rate levels, leading to a more relaxed state than those who did not receive or avail of discounts.
Add to Cart and Go Check It Out
For whatever reason, a discount appeals to you, so long as your spending remains within reasonable bounds, then go ahead and avail of the limited time offer.