You may be surprised to know that the biggest mistake you can make when shopping is to shop for the “best” or “lowest” priced products. That’s right! Buyers mistakenly use price to drive their buying decisions — this is referred to as the price myth and retailers have used the lowest price hook for years to drive traffic to their stores and websites.
The single biggest shopping mistake a consumer can make is to base the decision to shop or buy solely on price, and I should know as I have been providing sales training to companies for 30 years. Whether it is Black Friday, Cyber Monday, the day after Christmas, or online shopping, these smart shopping tips will ensure you always make a good purchase and avoid making bad ones.
The first thing to know is to never make your decision to purchase on price but instead on value. Smart Shopping Tips for making a great purchases will always be based on value.
The Top 4 ways to best determine value is:
1) Use- how often will you use the product.
2) Duration of Use- for how long will you use it.
3) Resale Value- can you sell the product later and reduce your overall cost.
4) Pleasure or improvement of your production.
Obviously the Price must be within your budget but only considered after the previous 4 criteria have been met.
The next time you are tempted to buy that crock pot because it is 50% off, run the purchase through these smart shopping tips for making a great purchase. Don’t fall victim to the price myth — evaluate your purchase on value, not just price and you will avoid shopping for things that don’t have real value. Finally, remember when value exceeds price you always get a great deal!