The the pandemic created feelings of anxiety because people felt unsure of what was going on. Anxiety usually fuels materialistic values that increase the likelihood of people making purchases. Materialists tend to buy goods according to their perceived statusSo it’s no surprise that many invested in big ticket items during the pandemic because they were spending less on items like travel and dining out.
As we return to “normal” life, anxiety levels drop and people no longer find the items they have purchased desirable or useful. Our life priorities change, and with them, our material needs. Buyers judge purchases based on the item’s ability to meet their needs. When the items are no longer desirable and they want to buy something new (which they may not be able to afford), “buyer’s remorse” arises for the more expensive products they have. purchased earlier.
During the pandemic, many also turned to online shopping, out of choice or out of necessity. It can also lead to higher levels of regret because consumers are unable to physically interact with the items they buy. When the package arrives on the doorstep, it may not be exactly what they wanted or expected, leaving people feeling disappointed.
Avoid buyer’s remorse
We can’t change the past, but we can at least try to make better consumer decisions in the future. There are a few things you can do to reduce the likelihood of never having made a particular purchase:
1. Experiments on things
While buying new clothes or toys can be satisfying in the short term, pay for an experience – like going on vacation or going bowling – is less likely to arouse buyer’s remorse. This is because one item can always be directly compared to other items you own that may be cheaper or inferior in one way or another. An experience or activity is unique to you and more difficult to compare.
2. If in doubt, do not buy
If you are hesitant to buy something, you better resist. Studies show that people are less likely to regret if they don’t buy something they wouldn’t if they bought it.
3. Enrich your life
Spend your money on items related to personal development. When shopping is related to aspects such as community, healthcare, the arts, entertainment, and education, people feel more satisfied with what they bought.
4. Stay away from sales
Compulsive buy often leads to regret. It can be hard to stop when you feel like splurging, but there are precautions you can take. Stay away from online sales and promotion events like Black Friday and Cyber Monday. Before you shop, figure out how much you can afford to spend and what you want to spend it on – make a list and stick to it.
5. Think about others first
Instead of focusing on yourself and your desires, think about buy things for others. Giving gifts can be satisfying for both the giver and the recipient.
As Christmas approaches, people are likely to spend more than they want on gifts and food. This is a good time to think about what you can do to avoid the possibility of buyer’s remorse. The tips above should help you avoid buying unnecessary items and have a more rewarding holiday shopping season.