Buyers Remorse

We all recall that nagging feeling after an important decision or a large purchase. We call it having second thoughts, but behavioural economists call it buyer’s remorse.

What part of the brain makes a buying decision?

We are well aware of this and by understanding it we can help guide you towards the right decision when to have a repair or to replace. Making a purchase and ensuring that you are happy with your buy. Most appliances are used daily and people rely on them to make life easier. The decision to have a repair or to replace is made. Read on to understand buyer remorse and how to avoid it so you can make the right decision for future purchase.

Often times, we feel buyer’s remorse because we feel that we’ve wasted money by been pressured into making a purchase. Some people will tell you to spend on things you need rather than want. I’m not a fan of that concept. It’s OK to spend on things you don’t necessarily need but will enjoy. Figure out if your purchase will add value to your life. If so, it is much easier to justify it. With so many added features on appliance that add to cost, would you benefit from them. Do you really need a digital display? what about spending a bit more for a larger drum size if you have a large family and do a lot of washing. Tumble dryers, vented ones are cheaper but spend a bit more and have a condenser that does not need to be vented with a hose hanging off it. Those are just a couple of examples that consumers are faced with when making that important decision. Regretting that purchase and blaming the sales person after for pushing for a sale making them more profit.

Do your research

Whenever you are preparing for a big purchase, be sure to do your research. With all the information you need right at your fingertips on the internet and advice from us, there’s really no reason not to. Research all the different options available and which one fits your needs the best. Do some comparison shopping and find the best deal. Also, be sure to read reviews from other consumers. We can help decide for you by offering the best for your budget, and the more suitable appliance for your needs.

Set a budget and save up

If you’ve determined that you want to buy something, set a budget and save up for it. Don’t go out and impulsively purchase it. You want to make sure that you’re able to afford it. If not, you’ll end up regretting it – even if you do need it. This will also give you some time to really think it over.

Have no regrets

If you’ve gone through all these steps and feel good about the purchase you’re making, have no regrets. Be confident in yourself and your ability to make good decisions. Also remember that it isn’t the end of the world if you don’t end up enjoying your purchase. It’s just another learning experience for the next time.

Why does it happen?

This feeling of self-doubt and uneasiness stems from cognitive dissonance, a mental state due to the clash of conflicting thoughts. For example, when you buy something expensive or feel that you have overpaid for something and could of saved a bit more and got a better deal. You come across another appliance that’s cheaper or has better features. It is these conflicting thoughts that give rise to buyer’s remorse.

The sheer availability of choice in everything from spin speed, drum size, digital display and so on and so forth can also manifest itself through buyer’s remorse. Impulse buying in a hot state, when high levels of emotion affect our rational decision making processes, is also another culprit.

We can supply the research on any appliance that’s on offer. That will help you decide on the right choice for your budget, expectation and requirements.

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