Impulse purchases are those “see-grab-buy” purchases without really thinking hard about the purchase before making it. It’s a phenomenon especially in the electronic work with a trend that many want to have a device or software on launch day. Say video game systems, mp3 player and even computer games.
The matter is even getting more pressing if the supply is limited, say a limited edition of a computer game or a super duper price for a product that usually costs a lot more. That’s like putting more pressure on the consumer and it usually works.
I’m sometimes hard pressed to stop myself from buying a device after reading about it on the Internet. I came up with a system that is beating impulse buying fair and square and it will definitely save you some money.
It’s actually a pretty easy system. If I see or read about something that I want I think about it for a second. Do I really need the device right now? The answer would be yes in the case of a crashed hard drive but no for a gamin system or computer game.
Every item where I come to the conclusion that I do not need it right away lands on my 90-days list. I add the date and the name of the product on that list. I check back after 90 days and see if I still want to buy that product. If I do I buy it but more often than not I don’t care anymore. Let me give you an example where this worked perfectly.
You might remember that I wanted to buy a SSD (Solid State Drives) for my new computer. SSDs were expensive and rare at that time and most could not really live up to the promise. I put that SSD drive on my 90 days list and ordered one just a few days ago because I still wanted one. Those 90 days however saw some great product releases of reliable and fast SSD drives and I was able to grab one of the fastest for a third of the price that I would have paid back then. As I said, it works pretty well and more often than not it saves you money.
Ladies, this works extremely well for non-tech related products like shoes, perfumes, clothes or books.
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Yep, postponing purchase usually has good results in the end. I was brooding over buying e-ink book reader when they became available… In the end I bought one year+ later, 30% cheaper, with better (next generation) screen.
I could buy it right away – and end up with very new and unpolished product with sub-par specs (original screen sucks comparing to later ones).
There is very little justifying of buying anything on release day. Especially with electronics and such. I think balance between price and functions is reached roughly in the middle of release day and stopping production.
This will come in handy, I’m incorporating it right now
Ok, spam filter ate my long thorough comment again (it seems to be especially paranoid with purchase-related words).
Short version – method works. :)