BLACK FRIDAY 2019 DEALS SALES PSYCHOLOGY - BEFORE YOU BUY ANYTHING...WATCH THIS! Black Friday follows on from 2018 to 2019 and soon enough consumers will be trying to snap up all of the best deals while they can. This might be gaming, movies, jewellery or anything they can find during the sales. However, be aware that many sales and marketing teams will be hard at work with sales psychology and marketing psychology to get you to part ways with you money.

So in this video, we looks at the black friday 2019 sales psychology to help you get the best deals possible.

// A Quick Summary of the points covered:

1. Add Buying Pressure

A commonly used tactic during Black Friday and that is to put pressure on the consumer to decide on whether to buy or not. Black Friday deals run for a very limited time, whereby deals last for a few days only in the best case scenario and no items on sale are announced early. What this means is as soon as the consumer becomes aware of a deal, they immediately come under pressure as to whether they should buy or not.

2. FOMO, or the Fear of Missing Out

FOMO is a concept that's prevelant in today's society, especially with the advent of the Internet, as people are more aware of possibilities available to them than ever before, but also therefore don't want to miss out on them. This same principle is used as a sales technique time and time again, and Black Friday is an ideal opportunity for companies and sales people to apply it. After all, Black Friday deals are often marketed as the best deal you'll possibly get and one that isn't likely to come round again.

3. Evoke Consistency

You might think Black Friday comes and goes each year and is a one time deal, but in reality it's actually incredibly well thought out and marketed. For example, many people in various industries will start talking about Black Friday early on, capturing interest, after which they will slowly buy in your trust and use a method of consistency to increase potential spending, initially in smaller sales before they build up to the main day. In the video we use Amazon as an example of someone who does this!

4. Build Social Proof

Companies will work to try and get you to buy their products by developing social proof to show they're in demand and therefore worth looking at. This is because humans naturally have a tendency to conform to mass behaviour, meaning if people see others buying from a particular place or a particular product, they themselves are more likely to do the same. Nintendo have done this regularly throughout their history.

5. Offering Perceived Low Prices

So there are two elements to factor here, that is the sale price and the perception of value from that sale price, as this can have a huge influence on the deal that people think they're getting. For the sale price, a product might be marked as extremely low, at a discounted rate where you save 50% or more when you purchase it on Black Friday. what's usually worth noting is that while the product is discounted, the product itself might be regularly put at sale prices through the year and thus might be available on deal a number of times. This leads to the second point, the perceived value you might be getting, as on Black Friday companies will often extensively market the deals as a one time only thing, increasing the value of the deal you're getting and thus more likely to pressure you into buying.

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