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...

Certain people seem terribly misinformed when it comes to what makes a savvy consumer. They simply can't say no to a sale or discount, even if the product they're buying isn't something they really need or ever plan to use. Whether they're trying to take advantage of buy-one-get-one-free deals on cold cuts at the grocery store or deep discounts on apparel at the mall, they don't realize that, in the quest to save money, they're still spending lots of it. In other words, people don't mind spending money they otherwise would not fork over if it means they're getting it for less. For many consumers, the thrill of snagging a bargain is irresistible. It's no surprise, then, that many people find themselves chronically debt-ridden. Unfortunately, retailers have gotten smart at baiting shoppers with these ploys. By saying that a sale is only available for a limited time, or that items are running out, people are quick to act because they don...

Declining foot traffic and slumping profit margins are forcing several brick-and-mortar retailers to shift into survival mode. Consumers are doing more of their shopping online, lured by the convenience and great deals offered by Amazon and other competitors. As a result, the stores are tweaking their strategies, hoping to rake in big sales in the process. For one, Wal-Mart has been forking over cash to increase sales online, buying discounter Jet.com and building out its distribution system. It's also invested in remodeling hundreds of stores, reducing inventories, and pushing down prices. Target will forego $1 billion in profits by lowering prices and pushing digital sales with lower margins. It will also spend billions to renovate roughly 600 stores and open 100 smaller ones over the next few years. As part of its ongoing effort to get smaller to combat losses, Sears will be closing another 100 Sears and Kmart stores in 2017. Having already sold off its Craftsman tools b...

Yesterday, I stopped by Barnes & Noble on the way home, and I couldn't help but notice it looked unusually crowded. I felt like I was at a jam-packed Toys ''R" Us or Wal-Mart rather than a bookstore. Then I remembered: It's the holidays, dummy! And I went on a good day: Magazines were 30% off, so I snagged a special edition of TIME , which focused on the psychology of relationships, and the latest edition of Lapham's Quarterly , which centers on none other than my favorite historical figure of late -- Alexander Hamilton. I later ventured over to the kids aisle and saw a Star Wars toy that I know my nephew will go gaga over. And I grabbed it just in time, as a kid came up to me and asked where exactly had I seen the toy. To his dismay, it was the very last item of its kind in stock. It was only one day after Black Friday and I had already gotten a taste of the holiday shopping frenzy that's sure to sweep the nation over the next couple of week...

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...

I don't know about you, but there's nothing more unpleasant than walking into a mall so overcrowded that you: Constantly bump into people Can't find anywhere to sit Are forced to stand in long lines And if the mall is that crowded, it usually means finding parking will be a huge headache, so the frustration begins even before one sets foot in the mall.  Granted, I live in South Florida, an area notorious for being heavily congested. Even if a crowded mall is the exception rather than the rule where you live, you've probably found yourself in a badly crowded venue at some point, whether a concert, nightclub, or theme park.  Making matters worse is having the urge to use the restroom and not being able to because it's out of service or there's a gaggle of people waiting to use it. Or, how about being so hungry you could eat a horse, but finding that the lines at the food court virtually snake around the building? Nothing spoils a good shopping...

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...

Shoppers spent $10.4 billion at stores on Friday. While that may seem like a large number in and of itself, it's a rather tepid showing when you compare it to sales generated a year earlier. In 2014, consumers forked over a more impressive $11.6 billion. Moreover, store sales on Thanksgiving this year fell from just over $2 billion to $1.8 billion. So what's to blame for the drops, exactly? As you can probably predict, consumer behaviorists point to online sales, which jumped 14 percent on Black Friday from 2014. All told, consumers who took to the web for their purchases spent $2.72 billion. Not too shabby, right? And we haven't even gotten to Cyber Monday (Nov. 30), which is hands down the busiest e-commerce day of the year. Perhaps this suggests that people are getting tired of braving the crowds (and the elements) to snag a good sale in person. Reports of people camping out in stores and trampling over others to grab everything from TVs to denim jeans has like...