Is thinking about wanting something better than actually owning it?
Do you like it, or do you want it? And what's the difference?
When studying my Marketing degree, my favourite subject was consumer behaviour. Understanding the psychology of how and why someone connects with a brand and chooses to buy an item has continued to pique my interest, and has been a constant puzzle I’ve tried to solve in every role throughout my career.
It’s also something I want to understand about myself.
How can I better process and take control of my own shopping habits to meet my spending and saving goals?
I’ve always thought that to be a more conscious shopper I needed to hone in on the skill of knowing exactly what I want. But after putting this piece together, I actually think the more important understanding is knowing what you like. And for me that’s a much deeper question to ponder.
I recently bought a leather jacket, so I’m going to use it as the example in this article, and ask myself three questions.
Do I want it?
Do I like it
Was it worth it?
Dopamine spikes before the purchase takes place.
When looking at the dopamine curve, it spikes during the anticipation phase. You could almost call it a day with just this info, but stay with me, there is a lot more to unpack.
Browsing a physical or online store, filling up your cart, heading to the change room, saving posts of someone else wearing the item, this is the part where dopamine (the chemical that drives motivation and pushes us to chase a reward) is at its highest.
I remember in high school talking about going to the party was the best bit. The anticipation of the weekend, who might be there, planning the outfits, getting ready with friends, the pre-drinks - so fun! The party itself? It was ok.
Why?
The unpredictability of how (the product or the experience) can change our lives is genuinely exciting. We use our imaginations and visualise the possibilities.
This is why brands’ imagery and world building is so important, and why through aspirational locations and models they are planting the possibilities of the life you could live by owning, buying, wearing and experiencing their products.
When the A.Emery collection first landed (June 18) I did a quick scan of all the newness. I have a few pieces in my wardrobe that I love so I know they can produce a winner that connects well with my style.
I immediately noticed the jacket. I really loved how it was styled on the model and I saved the image. I thought to myself that I have a pair of black pants so could easily recreate the look.
I checked my size and saw there was only one size 8 left, just after their newsletter went out to all their customers, so I knew there was popularity around this one. I also clocked the price, which falls into an expensive zone for me.
I didn’t want to ‘miss out’ but also knew I was entering a scarcity mindset, and I paused.
