The Psychology of “Buy Now”
We’ve all been there. Caught in the web of boredom, sleepless nights and the desire to own something new, the “buy now” option on your favourite online portal surges the adrenaline and escapes all doors of your rational, hastily letting you buy the things, you’d probably discard after using once.
You wake up the next day with nothing but a heavy remorse. Questions like, “Am I ever going to use it” or “What was I thinking while buying this piece of crap?” starts arousing, making you feel guilty for the entire day.
So, why does this happen? Why is this impulse so strong and hard to defy? To understand this, we must accept the fact that the art of persuasion was refined before you or I was born. Most of the times, we don’t realise how much of our shopping decisions are thought out for us.
Let’s start with these mini psychology lessons used by the marketers in instigating your purchases, which you should know before making your next online buy:
- Most Purchases are Impulse purchases:
Marketers know that most customer purchases are based on their impulses. According to a survey by Chase, 83% of millennial have made impulse buys. Another study shows that 80% of Americans have made impulse purchases in the last year. What we tend to miss is the power of “Buy now” button which is explosively powerful according to Psychologists and market researchers. Marketers call it the “Buy Now” strategy used for drawing larger consumer base to their products.
- “Why” behind “Buy now”:
Over time, the marketing researchers have developed certain marketing theories that cause a customer to hastily click “Buy now”. The very first step is to make customers aware that they can buy now. Once they’re aware of that, the overwhelming attraction towards the product creates an insatiable need in the customers for the purchase. Though, most people suffer from conflicting feelings of indulgence and self-control, the call-to-action in the form of the powerful “Buy now” button, motivates the buyer to make the purchase right away.
- The power of word “Now”:
The word “now” inspires and instigates most of the purchases. Hence, you find the options such as Shop Now, Get it Now, Subscribe Now, Browse Now on your favourite online portal. Most successful leaders, businessman and managers realize the importance of the word “Now” and how it affects the consumer’s final buying decision.
- The Significance of Colours:
According to the Psychologists and Market Researchers, colours such as Red, Orange and blue are likely to stimulate people to “Buy now.” However, it’s impossible to make an accurate conclusion about colour psychology as the impact of colours depends on gender, mood, attitude and experience. Still, it is believed that red colour is used for grabbing attention to increasing instant sales while blue is associated with impulse purchases. Orange is seen as a warning colour that signals urgency. Marketers understand these psychological tactics to lure the customers in boosting their sales.
So, how many times have you been caught in the web of “Buy now”? Share your experiences in the comment section below.