The tendency to buy things on impulse is the reason the marketplace keeps thriving and why the dents in our pockets are getting bigger.
If you were to persuade a rational human being to make a sensible decision, the process would be straightforward. However, that is not the case with human beings. Our thinking becomes irrational the moment we bring in emotions and biases to the picture and from then on, we are on a downward spiral.
Most people would like to think that they make their decisions based on logic but the truth is that most of their judgments get their basis from emotional reasoning. Most of the choices you make in life will get driven by your emotions whether it is to get married or to purchase a new car.
Human beings are less likely to make rational decisions when they are tired, under pressure or hungry. Take an instance where you go shopping with your kids who ask for everything on which they set their eyes. Buying with kids can be very draining as the process involves a lot of pleading, crying and admonishing. By the time you get to the check-out line, most of your willpower gets lost, and you just want to pay and leave the store. Unfortunately for you, this is the moment where one of your children sees a candy bar that they feel they must have and they resort to crying and throwing a fit right there in from of everyone.
With all those eyes on you, you are likely to bow down to pressure and grab the candy bar, stuff it into the shopping cart and curse your lack of willpower.
The best time to make a judgment is when you are calm and collected so that you can weigh all available options without your emotions getting in the way.
Many people think that they bought products after making rational decisions which would give them the best value for their money. How wrong they are! Our purchasing decisions are anything but that. Sometimes, we crave satisfaction so much that we lack the patience to look for better deals. Let us suppose that you come across a retailer selling a shirt that you have been looking for all month and they offer it to you at two hundred dollars. Your friend alerts you that you can get the same shirt in a month’s time for one hundred and fifty dollars. On weighing the two options, you are likely to put down the two hundred dollars at the spot so that you can have immediate access to the product.
If you were to reason, you would realize that you could have saved fifty dollars if you would have been just a little patient.