We have come to loveonline shoppingfor numerous reasons. One, it is very easy and convenient, especially if doing so from rural areas. All it takes is a quick click of the mouse and your item is on its way without you ever getting off of your couch. Another reason why we love online shopping is because it is a safe and practical way to get what we need and often do so with a discount. However, there are also some hidden dangers of shopping online.
One of the biggest dangers ofinternet shoppingis the threat to overspend. We see it online and believe we just have to have it and before we know it, we have blown our monthly budget. In fact, there are several ways in which we are tricked into spending more online.
One way we spend too much money is because all we have to do is simply click a button. If you think about it, you will spend much more time considering a purchase in a store than you will online. If you are in a store, you will see a sweater, try it on, head to the register, stand in line and then swipe your card. However, withshopping from an internet connection, you simply see the sweater, click the button and pay. As a result, you are much more likely to have impulse buys online than in a brick and mortar store.
In addition, you will be paying for your online purchase with a debit or credit card rather than with cash. Studies show that when we pay with a credit card, we are likely to spend twenty to forty percent more because we are more distanced from what we are spending. It is even easier to overspend when your credit card information is already stored in the company’s system. In fact, another study showed that back to school shoppers are likely to spend 40% more when shopping online than when going to the mall simply because of the convenience.
Shopping online also gives us this idea that items are scarce. Say you are shopping on a site such as Ebay and you see that there is only one item and time is short in order to make a purchase. Studies show at this point the situation actually initiates our fight or flight mechanism which cuts down on our abilities to make a rational decision and we might end up buying something on a whim.
There is also something now known as the BUI or buying under the influence. There is a rise in shopping among people who may be having a glass of wine and then decide to purchase something that they may not even remember doing later. Therefore, it is always better to wait and have that drink after you have finished your online shopping.
Online shopping will, of course, continue to grow, but it is important to keep an eye on your wallet while looking for your next item or you may find yourself with a larger than usual credit card bill.
