Holding on to the Dollar
With the slow economy, more people choose to stay home. Instead of dining out, many choose to eat a home-cooked meal. Instead of going out for shopping, people choose to cuddle up in the couch and watch the television. That is why department stores and retail shops are furiously offering discount promotions to lure customers to go into their shops and buy.
For businesses, it is a simple formula. Instead of letting supplies stay in their warehouses for an indefinite amount of time, or worse, make it outdated and out of fashion, they sell their goods at a minimal margin and sometimes with no profit at all.
This is a very promising prospect for consumers who can now buy more with their dollar. However, more astute buyers hold on to their purses for a little longer and study the promotions and discounts offered by stores. Before entering a store with a huge 50 percent off sign plastered on the window, answer a few basic questions first:
Do you really, REALLY need to buy the product? Many shoppers are blinded by the discount, they buy stuff without thinking if they actually need it all. At the back of our minds, we think we may someday need the product so better buy now that it is cheap. However, this is the wrong premise. Buy only products you will definitely and absolutely need immediately. No use stocking on stuff you do not need yet. Save the dollar on more important things.
Is the store offering a discount or ripping you off? Many stores supposedly offer discount, but they have actually bloated their base prices, the discounted price actually becomes the regular price. To counter this, look at other shops that offer the same kind of product and see the price difference. You can ask the store staff for the original price and how much was taken off.
Am I shopping or buying? Really simple words but in times of economic difficulties mean a world apart. Especially for women, shopping had become a sport, a past time – walking around malls without any particular thing to buy. Just looking around, appreciating things then buy the good ones they see. When buying, you have something specific in mind that you are looking for. Set your mind as you leave the house – do you need a new pair of sneakers, or a pair of jeans, or a new stereo unit? Know what you need and then want it. It will make your shopping purposeful, will save you a lot of time and will definitely save you much of your hard-earned dollar.
These are simple questions but are definitely helpful ones to ask before attacking the department store. The slow economy does not mean people should sue their dollar to buy more. It means more of holding on longer to your dollar and make the purchase really necessary before letting it go. There is no clear end in sight yet for the economy and being a little smart, at least, for the time being, will not hurt at all.
