Daily deals fatigue
Discount sites are getting some in money trouble
Who knew the paradox of choice could extend even to discounts? Consumer are now complaining of daily deals fatigue due to all the sales that come in their emails daily. What's more, according to this USA Today story, is that many companies are creating a culture of fear among buyers that if they don't snap up the deal now, they'll be losing out on something.
Competition among companies to offer the deepest discount is fierce, and while being a comparative shopper is usually advantageous, doing so with this many options is tough. The ugly, sad side of the surge in group buying sites and daily deals offerings is that it's leading to compulsive shopping for things people don't need and a false sense of savings in addition to daily deals fatigue.
Two simple ways to assess whether or not a deal is really a deal are: 1) see if it's something you really need and 2) see if it fits in your budget. And by budget, we mean power up the Excel spreadsheet or log-in to the budget-tracking site or software you use, and see how your daily deals are affecting areas like bills, groceries, and your retirement fund.
Do you have daily deals fatigue?
"Buy now, or you'll miss out.It's been an effective marketing strategy for as long as there have been retailers. But today, analysts say, that theory is driving a sales-crazy marketplace in which retailers, desperate to survive tough times, are finding increasingly creative ways to lure consumers who consider 20% off to be the new full price..."
