Last Cyber Monday, I rushed to put a very-much-on-sale grill into my virtual shopping cart. I texted my daughter to make sure my son-in-law really wanted it, because this limited-quantity deal would not be returnable. I entered my credit card number as soon as she responded. Moments later, I got an email: “Sorry, sold out.”
I had no grill, only someone counting on getting one. I bought the grill, but at more than twice the price of the deal I missed.
Welcome to FOMO. Fear of missing out has become one of the great marketing tactics of the holiday season. Scarcity — a limited quantity, a small time window — pressures consumers to act quickly for fear of missing their chance. To resist that impulse, it can help to decide ahead of time on spending limits, whether you’ll buy something nonreturnable and other guidelines before adrenaline and emotions get involved.
Besides recognizing FOMO, here are other ways to be a savvy shopper on Cyber Monday, which is the Monday after Thanksgiving (this year, Nov. 29), often the last hurrah for Black Friday deals.
Be realistic about possible delays
Jane Boyd Thomas, a marketing professor at Winthrop University in South Carolina, thinks gifts that don’t show up in time for the holidays could be the story of Cyber Monday 2021. She expects a lot of people to be disappointed when they get a receipt and even a shipping notification, only to be told, days later, that shipping has been delayed. Some retailers run deals both in store and online, and you may be able to avoid shipping altogether. If not, consider printing out a product photo and wrapping that as a gift.
