Black Friday stretched from one day to a week, a month, and in some cases even an entire quarter. Shops shout about “-70%”, “mega deals” and “last chance”, and consumers, tired of inflation and the end of the year and the pressure of the upcoming holidays, hope that they can get something cheaper. But are we actually saving? Or maybe we just let marketers guide us?
In the latest episode of the WSE podcast – Economic Point of View, prof. Agata Gąsiorowska, author of the book “Money or life. How money influences our behavior, emotions and relationships”, explains the psychological mechanisms behind Black Friday and shows why in many cases… we save the most by not buying anything.
“We think we save 50%, but we could save 100%”
When we see the red “PROMOTION” sign, our automatic reflex is triggered. We don't count, we don't check, we don't analyze. “The fact that something is 30, 50 or 80 percent cheaper gives the impression of a bargain. Meanwhile, if we do not need a given item, we do not save anything by buying it. And by not buying it, we save everything,” emphasizes Prof. Gąsiorowska.
The phenomenon is all the stronger the more “non-existent” the product is: gadgets, electronics, household appliances, clothes. The researcher points out that rarely people look for discounts on butter or bills on Black Friday – we rather look for things that are supposed to improve our mood, status or sense of attractiveness.
Marketers know our weak points
Black Friday is not only about discounts. It's an intricately designed environment of influence:
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short messages: “only today”, “last pieces”,
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percentage thresholds
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shortened purchase path: from advertising to payment in a few seconds.
“Sellers take advantage of the fact that we often make decisions automatically. Before we have time to think, we click 'Buy now'. We have been humans for several thousand years, but our brains are even older. Emotions are faster than rationality,” says the expert.
So it's not about dopamine, the “shopping high” or gambling, but about the fact that the first thinking system – fast, impulsive, intuitive – takes precedence over calculation.
Black Friday and… the climate crisis
Prof. Gąsiorowska draws attention to one more thing: buying things “in stock” or replacing good equipment with newer models has a real environmental cost. The most graphic example? Buying a new household appliance, for example a hob or oven, because it was “at a good price”, even though the current one works perfectly. If it ends up in the trash, it is no longer a “bargain”, but a waste.
– Excessive consumption – especially in fast fashion from China and cheap electronics – produces waste that stays with us for decades – warns the researcher.
How to defend yourself, i.e. psychological “missile shield”
The most important rule: make the purchase more difficult.
The expert provides specific tools:
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remove the connected card from the phone – the need to enter data suppresses the impulse;
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Take the calculated cash for stationary purchases and leave the card in the car;
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Don't take a stroller, just carry a basket – physical weight limits shopping imagination;
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don't scroll through sports marketplaces – it's an invitation to disaster.
The longer the path from the stimulus to the payment, the greater the chance that rational thinking will kick in, the psychologist emphasizes.
Black Friday doesn't have to be bad. It can be an opportunity, but only if we control the process, not the other way around. As prof. says Gąsiorowska, there are nice promotions. But if you don't know what you are looking for, you will find not a promotion, but an unnecessary expense.
Marketing gimmicks are one thing, fraud is another…
There is another serious aspect of this “holiday” – the increased activity of cybercriminals. As Wojciech Boczoń rightly notes in the article “Black Fraud instead of Black Friday. Cybercriminals go harvesting”, the rush and reduced vigilance of consumers who count on “mega deals” create an ideal harvest for fraudsters. As a result, Black Friday can quickly turn into… Black Fraud.
Scams during the sale period take many forms, and their common denominator is impersonation under well-known brands, couriers or payment operators. The most common threats are fake online stores (often created with the help of AI to look realistic), which tempt you with extremely low prices, but after paying for the order, they never send the goods. It is equally common phishing and smishing – i.e. fake e-mails and text messages which, under the pretext of a problem with delivery or a canceled transaction, attempt to extort confidential online banking login details or payment card details. This mechanism uses the same principle as in the case of promotion – speed of response and fear of missing an “opportunity” or problems that force us to immediately click on a dangerous link.
Therefore, the psychological “missile shield”, which consists in making it more difficult for oneself to make an impulsive purchase, should be extended to include “digital cyber hygiene”. In addition to controlling your own emotions, it is crucial to be extremely vigilant towards unknown links and verify the authenticity of each offer. You should check website URL addresses (if they do not contain typos in the name of a well-known brand), avoid unusual payment methods (e.g. limited to transfers to a private account) and have limited trust in advertisements on social media, which often lead to fake websites. Saving money is one thing, but protecting your money and data is a must increased attacks by cybercriminals during the shopping frenzy.
Bankier.pl and Puls Biznesu join forces in action Scamming Outto give you the knowledge and tools to safely surf and buy online. Don't fall for fake emails, suspicious links or websites that are confusingly similar to the originals. Don't risk your purchases ending with a waste of money.
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