The holiday season is considered by some to be the most wonderful time of the year — but it can also be the most expensive. Amid the mad dash of sales advertised to you through Black Friday emails or influencers on social media, spending can take on a feeling of urgency. It is easy to be convinced that you must act fast to get the best deals.
Despite all the holiday bargains, a shopping frenzy can lead to overspending and making unnecessary purchases. That is where slow shopping comes in, a practice many shoppers are planning to implement this holiday season. In a study conducted by Talker Research for Affirm, “nearly 3 in 4 consumers (73%) said they have adopted a slow-shopping approach for the holiday season,” said USA TODAY.
Slow shopping is the opposite of impulse buying. It “promotes the importance of taking time to think through each purchase to make more mindful buying decisions,” said CNBC, citing consumer savings expert Andrea Woroch.
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When you slow shop, you “take the time to consider the necessity and cost of each item,” and “prioritize quality and wait for the best deals,” said Bankrate. It really comes down to “pausing, assessing your reasons for buying and making thoughtful choices.”
One easy method of slow shopping is “adding items to your online shopping cart and then waiting at least 24 hours before making the purchase,” said Bankrate. This “gives you time to reflect on whether you really need the item, find better prices and look for coupon codes or discounts.”
Slow shopping may meaningfully shift your spending habits, so it is certainly possible that it could save you money. Many people “say they slow-shop to ensure they’re purchasing only items they truly want,” while others “say it helps them take more time to research their purchases in advance and compare different brands and styles,” said USA Today. This can help prevent excess purchases and ensure you are buying exactly what you want (and need).
Shoppers additionally use slow shopping “to take advantage of more deals and promotions,” said USA Today, which is another path toward savings. Plus, said CNBC, “slow shopping also allows for more time to save up for big-ticket items.”
Finally, slow shopping creates space for the initial flurry of emotions — when you see a tempting price or a favorite influencer promoting an item — to pass. “When you give yourself time to move past an emotion or allow yourself time to reassess your need or desire without the worry of missing a deal, you can make a more level headed buying decision,” said Woroch to CNBC. “Oftentimes, this will mean dodging an impulse purchase.”
Yes. For one, slow shopping “can be a huge time drain that leads to overanalyzing purchases,” and it might make you “lose out on deals or limited-time offers” as a result of waiting, said Bankrate.
One example of a time when slow shopping “may not work out” this time of year is “if your child is hoping for a hot toy for the holidays,” said CNBC, citing Wolroch. “Typically the hottest toys aren’t going to be discounted for more than 30% during the holiday season, so if you find a good sale, you might want to get the item so it doesn’t sell out.”
Another risk of waiting too long to pull the trigger? “Shipping delays,” said CNBC.
How else can you save this holiday season?
Slowing down while shopping this season is a great way to avoid overspending, but there are other ways to save as well:
Have a budget. Figuring out ahead of time how much your holiday plans will cost — and how much you can afford to spend — can help you stay realistic.
Make a list and stick to it. Determine what you intend to buy and for who you are buying it ahead of time, then stay true to that list when making purchases.
Pile on the savings. In addition to scouting out sales, “find coupons and free rewards, which may come from signing up for a store email list or mobile alerts,” said USA Today. And if “you’ve saved rewards from your credit or debit accounts, use them.”
