American retail is designed to make you spend more of your money quickly and easily. And I’ve got 4 ways they’re doing it. Use this knowledge as a defense mechanism to improve your finances and budget!

1. Access to Financing

It’s wild how easy it is to get financing nowadays. Obviously credit cards are a huge one which has led to the average American household having almost $8000 in revolving credit card debt. Deferred interest is a sneaky one! Retailers offer it in the form of credit cards, buy-now-pay-later options, 0% interest sales, and same-as-cash offers. The worst part about it is it can cause you to spend more money since there’s “no interest” but if you don’t pay it off within the term, you’ll get charged interest on the whole term. Also student loans are incredibly easy to get. Why are they so easy for a young person with no credit score to receive?

2. Online Shopping and Contactless Payment

Online shopping has increased the ease of buying something tremendously. Now we don’t have to get in our cars to purchase an item. We can just have it shipped straight to our homes in two days. Contactless payment also has made buying easier. Because now instead of handing over cash, you don’t even have to stick your card in a reader.

3. Rewards Programs

Every company I’m in contact with has a rewards program. Especially coffee shops. But rewards programs are a big part of American culture because they’re so ingrained in travel (airline miles) but also credit card points and cashback. People love feeling rewarded! And that causes them to spend more.

4. Subscriptions

Subscriptions have become a major part of American entertainment. Instead of buying something one time, companies have found out how to get people to consistently pay for a service without any barriers. And many people keep paying for subscriptions after they stopped using a service, just because it’s so easy.


Timestamps:
0:00 - Intro
0:34 - 4. Subscriptions
1:27 - 3. Rewards Programs
2:03 - 2. Online Shopping and Contactless Payments
2:43 - 1. Access to Financing
5:40 - How to Combat Marketing

#Calebbale #marketing #rewards #creditcards #subscriptions

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