So what happens in your brain when you decide to buy that $75 shirt that you can't live without, or that seemingly worthless and gadgety tuna fish drainer? (I love this thing now). This NYT article talks all about it, and it's worth reading.The Voices in My Head Say ‘Buy It!’ Why Argue?
by John Tierney
Luckily, I avoided most of that holiday-shopping bug by buying all my gifts on the internet. That and I'm not yet gainfully employed might have something to do with it.
On the subject of shopping, I noticed an abundance of gift cards this holiday season. Who really derives utility from the gift cards, givers or receivers? Do you remember the person who gave you the gift card when you use it? Hopefully you do, but the more popular they become, the less likely you'll remember who gave what gift card; which moves you right back to remembering those people who just gave you cash (and how appreciative you are for that).
Consumer Reports estimates that 19 percent of the people who received a gift card in 2005 never used it. Want to know the term for that, it's gift-card breakage. Want to know where I read that? As usual, the NYT: The Gift-Card Economy
The only way I've been able to take advantage of the gift-card craze is to use the promotions offered by many restaurants. Chili's is a good example. Walk in and buy a $25 gift card, get a free $5 gift card, then just sit down and spend all 30.
The last part of this post was inspired by the fact that I've lost a Loews Hardware gift card and I actually need to go there. I'm tired of looking for it, it's a good thing they still take cash.
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