Though some people may be struggling to pay pills amid a recession sparked by a global pandemic, it doesn't mean those in a stronger financial position (or not) won't be running up their credit cards and breaking their piggy banks -- whether online or at the mall. And, ironically, it's all in the name of scoring holiday deals.  Here's what many shoppers fail to realize: Sales are just ploys to get us to buy stuff we may not necessarily want or need.  We go into a store intending to buy or two things and end up coming out with well over five.  We set a maximum holiday budget, but end up blowing right through it as we aim to take advantage of as many "bargains" as we possibly can. Now, that's not to say we shouldn't seize a good deal for stuff that we use regularly. But if you know it's an item you'll stuff in a drawer or closet -- one you might not even remember you have in six months' time -- you should pass on it. Here are four valuable ho...

In a recent post, I discussed how Macy's holiday sales fell well below expectations, prompting it to close 68 stores nationwide. The Limited, a once-popular women's clothing brand that offers workwear and casual attire, has met an even darker fate: It shuttered all of its stores around the country. Only its website will remain up and running, and it will continue to ship nationwide. Despite owning such popular companies as Victoria's Secret and Abercrombie & Fitch, the brand fell on hard times in the mid-2000s. Sun Capital Partners, a private firm, took over its management in 2007. Still, like Macy's and other brick-and-mortar retailers, The Limited has had a hard time fending off e-commerce giants like Amazon, not to mention fast fashion stores like Forever 21 and H&M. The news comes as a shock to many people who have been shopping at The Limited for a long time, including my sister and wife. In my view, The Limited and Macy's chief problem bo...

I saw a meme on Facebook the other day that read as such: "Black Friday: Because only in America do we wait in line and trample others for sale items one day after giving thanks for what we already have." This is spot on. Isn't it ironic how many of the same people who give a heartfelt prayer at the dinner table on Thanksgiving are the ones jostling with other shoppers for bargains at the mall that night or the next day? It's nice to see a growing number of retail establishments closing for Thanksgiving so that their employees can spend the holiday with their families. But that list remains far too short as many stores still look to cash in on the frenzy by getting Black Friday underway on Thursday night. Many shoppers are ready to throw money at virtually anything that has "SALE" or "50% OFF" slapped on the sales tag. To be fair, some of the deals to be had really are phenomenal. But cutting Thanksgiving night short to schlep to the stor...

Coupons. Discounts. Sales. We all love them. Anything that allows us to keep more money in our pocket can only be a good thing, right? Any signage at stores that says "buy one, get one free" or "50% off" can be so disarming. It's as if it gets our "spend money" sensors tingling. Ironically, coupons and deals compel us to spend money we would otherwise not shell out. Most consumers don't want to feel like they're missing out on a great bargain, so they're willing to purchase something they might not even need or be interested in. It's all psychological: we  care more about saving money than the actual product we're getting. "If I don't jump on this deal now, the price might go back up." Or so our thinking goes. Is it any wonder retailers have been so successful at driving shoppers to the checkout lines by imposing time windows? ("Hurry! This deal ends soon.") I work in and studied marketing and psy...

It's a sobering reality that many people have come to associate Thanksgiving with shopping and Black Friday rather than regarding it as a day to halt the acquisition of more material possessions and give thanks for what they already have. The media, retailers, and consumers themselves are all to blame. I've lost count of the many news reports I've seen in which people begin to form lines outside of stores at the beginning of the week in anticipation of Black Friday. It's unfortunate that Black Friday has to be the day that immediately follows Thanksgiving. Why couldn't it have been, say, the Saturday after the holiday, or even the following weekend? It's utterly shameful that consumerism often overshadows the true meaning of Thanksgiving. Many people are more caught up with getting the best deals on computers and TVs than looking forward to spending time with friends and family. Let's not forget this: Unlike those whom we love, material goods can be ...