Buyer Beware

There is a Latin phrase, caveat emptor, which means let the buyer beware. Consumers make the mistake of thinking that some agency or someone is watching out for them. Unfortunately, this is not so. It is time that all consumers realize that they have to watch out for themselves. If you don’t say “no!” you will run into serious financial setbacks.

Consumers have become lazy when it comes to purchasing decisions. Because of this, marketing experts can still sell us goods and services using elementary marketing tactics and strategies.

You are not always getting a bargain. Personal sellers (where an item is sold as a result of a one on one discussion) are taught how to dress, talk and walk in order to persuade you to buy.

Another clever tactic businesses use is to offer consumers eye catching financing such as “no financing charges till December.” But the truth is the product is already priced higher to cover the financing expense. The same goes for mark downs. I mean didn’t you ever wonder how a business can mark 50% off an item and still be in business, you are being over charged even with the mark off.

But is there anything you can do about this? Yes! You first need to realize that you are not helpless. Start developing power over your purchases. Ask yourself “why exactly do I want or need that item?” Is it for shallow reasons like showing up your friends or is the item of real use to you? Second of all, we should all slow down our purchasing decisions. This especially applies to significant purchases. You should always wait over night before making big purchasing decisions.

Advertisers are not going to stop spending billions of dollars to sell you products but as a consumer you don’t have to buy into every strategy they sell. You should have power over purchase; the purchase should not have power over you. It’s not going to kill you to say “No!” to buying.

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