November Shopping Frenzy: How Sales Affect Our Brains
Translated & summarized from Ynet by baba
November's sales events, like Black Friday, can lead to overspending, according to ynet's Meirav Cristal. She advises shoppers to budget and track prices to avoid unnecessary purchases. Dr. Liraz Margalit explains that sales activate psychological triggers that increase an item's perceived value, fulfilling deeper psychological needs beyond basic utility. These sales events have diverse origins, from U.S. Thanksgiving traditions to China's Singles' Day and Israel's ShoppingIL.
The story in 5 lines · by baba
- November sales events can lead to excessive spending, according to ynet's Meirav Cristal.
- Cristal advises shoppers to create budgets and track prices to avoid overspending.
- Sales trigger psychological mechanisms that increase an item's perceived value, says Dr. Liraz Margalit.
- Purchased products can fulfill psychological needs related to identity and social status.
- November sales have diverse origins, including Black Friday and China's Singles' Day.
November's numerous sales events, including Black Friday and China's Singles' Day, can lead to excessive spending, according to consumer reporter Meirav Cristal of ynet. While these sales offer opportunities to save, they often result in people spending more than they need. Cristal advises shoppers to create a strict budget and a list of necessary items beforehand. She also recommends tracking prices before November to identify genuine deals and suggests using browser extensions to compare prices. To avoid customs fees, she advises keeping purchases under $75.
The origins of November sales vary. In the U.S., Black Friday emerged from post-Thanksgiving shopping traditions, with the name reportedly coined by Florida police due to the chaotic crowds. In China, Alibaba transformed the 1990s-originated Singles' Day into the world's largest e-commerce event. Israel's ShoppingIL, launched by Google in 2014, is a similar initiative.
Dr. Liraz Margalit, a researcher of digital-age behavior, explains that sales trigger psychological mechanisms that lower inhibitions. The word "sale" increases the perceived value of items, making even normally uninteresting products seem more appealing and valuable. She notes that purchased products often fulfill psychological needs, signaling identity, group affiliation, social status, and class.
