What’s the Psychology behind discounts? 🧐

Read Time: 1.07 minutes

GIRL MATHS: When you spot that "50% OFF" sign, and you don’t purchase whatever’s on sale - you’re losing money!

Let’s quickly explore about the psychology at play:

Scarcity: Limited-time offers trigger our fear of missing out. When something seems scarce, we want it more.

Anchoring: Discounts make us compare the sale price to the original, making it seem like a steal.

Emotional Appeal: Discounts trigger positive emotions like joy and satisfaction, reinforcing our decision to buy.

Social Influence: Seeing others grab deals convinces us to join in, known as the bandwagon effect.

🤔 So how does this apply to the real world, Sean?