Not-buying remorse spurred by limited time offers
Last Updated: Thursday, December 7, 2006 | 2:56 PM ET
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Sometimes it's the purchases you pass up that you'll regret more than the ones you actually make, suggests a new study on consumer behaviour.
The study, published in the December issue of the Journal of Consumer Research, examines how narrow windows of opportunity affect spending habits. When shoppers choose not to buy an item, they often experience immediate feelings of regret.
A study in the Journal of Consumer Research suggests when shoppers choose not to buy an item, they often experience immediate feelings of regret.
(Associated Press)
"They don't really think about 'Do I need it, would I really use it?' " author Lisa J. Abendroth told CBC.ca.
Abendroth, a marketing professor at Boston University, noted that shoppers often give in and indulge in a sometimes irrational purchase they'll never use.
She suggested that selling cues such as "three-week sale" or "limited opportunity" tend to heighten the urge to spend.
Abendroth and co-author Kristin Diehl, a marketing professor at the University of Southern California, said regret for inaction is particularly surprising given that buying involves financial loss and responsibility, feelings which are more commonly linked with regret.
The authors surveyed participants about their purchasing decisions in limited and unlimited timeframes and about the utility of their purchases. Participants showed they employ a range of coping mechanisms to deal with their purchasing decisions.
Shoppers who suffer immediate regret reported that those feelings subsided over time, contrary to normal patterns of regret that tend to intensify. People who had indulged and purchased a product in a now-or-never situation tended to rationalize their decisions.
"Thought protocols showed that buyers psychologically minimized negative aspects and emphasized positive aspects of their low-utility purchase to effectively reduce feelings of regret," the authors wrote.
Diehl said consumers should consider these urges and ask themselves how they would use the product in their lives.
"They should ask themselves, 'Am I buying this because I can? Or will I really use it?' " she said. "We sometimes just get so caught up in the moment that we want to buy what's there."
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A study in the Journal of Consumer Research suggests when shoppers choose not to buy an item, they often experience immediate feelings of regret.
