While you may be familiar with impulse buying, have you come across the term “slow shopping”?

It’s not about spending hours at a store, but rather taking your time when deciding to make a purchase.

According to money-saving expert Andrea Woroch, slow shopping is about pausing before making a buying decision, which might lead to either buying it later or not at all.

“Slow shopping encourages a thoughtful approach to spending, where the emphasis is placed on delaying immediate purchases instead of acting on impulse simply because an item catches your eye,” Woroch shared with YSL News.

Consumers plan to slow shop this holiday season

Research by Talker Research for Affirm, shared with YSL News, reveals that about 73% of consumers plan to adopt a slow shopping strategy this holiday season. Additionally, 60% of shoppers are beginning their shopping earlier, making more frequent, smaller trips, and being more selective with their purchases this year.

When asked about their motivation for slow shopping, many cited value and intentionality, as noted by Affirm, which is known for its flexible payment options.

Over half of shoppers (53%) stated they slow shop to ensure they buy only what is truly wanted, while 36% mentioned it allows them to research items more thoroughly and compare different options. Furthermore, 51% use slow shopping as a strategy to capitalize on better deals and discounts.

According to the Talker/Affirm study, about 68% of consumers intend to spend the same or more than last year, fully aware of increased costs. Approximately 34% attribute their expected higher spending to inflation.

The National Retail Federation (NRF) recently predicted that holiday sales will rise between 2.5% and 3.5% compared to the previous year.

In its recent holiday spending report published on Tuesday, the NRF projected that individual holiday spending will hit an average of $902 per person, which is around $25 more than last year and $16 above the previous record set in 2019.

The Talker/Affirm research also showed that shoppers are utilizing various payment methods:

• More than half (55%) of consumers look for the best value by seeking out deals.

• Half of shoppers (50%) find 0% APR financing options as valuable as or more valuable than traditional discounts.

• Over half (53%) are opting for “pay over time” plans to make purchases more manageable; the second most common reason is that it helps them budget (52%).

Slow shopping characteristics can vary

Slow shopping allows consumers ample time to reflect on their purchases, evaluate worth, ensure affordability, and compare prices, according to Woroch.

“This practice gives you the chance to make informed buying choices and ultimately saves you money,” she added.

The choice to slow shop can vary based on the item or the season. For example, if searching for a new mattress, you might spend a month comparing options.

On the other hand, you might make a quicker decision for something more immediate. If you’re in a grocery store and spot a shirt you like, resist the urge to grab it right away. Complete your shopping first, then consider returning for it later. If you don’t return, it’s a sign you didn’t really need it, Woroch suggests.

What are the disadvantages of slow shopping?

However, slow shopping might not be the best choice if your child is eager for a popular toy for the holidays, as trending toys seldom get more than a 30% discount during this period. In such cases, finding a good deal could warrant an immediate purchase to avoid stock shortages.

Additionally, delaying purchases might lead to possible shipping issues that could affect gift delivery timing, Woroch warns.

Are you an impulse shopper?

Impulse buying stands in contrast to slow shopping; it refers to acquiring items spontaneously without planning ahead.

Retailers are adept at encouraging impulse buys through tactics like flash sales. The influence of social media personalities and targeted advertisements has also heightened the likelihood of impulsive spending, according to Woroch.

To combat impulse purchases, Woroch recommends setting up what she calls “purchase hurdles.”

“Making the buying process more challenging can reduce the chances of impulse purchases,” she explained.

This can be achieved by disabling one-click shopping options or establishing other barriers to purchasing.

When shopping online, consider deleting a saved payment method so you’ll need the physical card for the transaction. If you plan to visit a store for an item, choose curbside pickup to limit impulsive buys, she advised.

Ways to Save Money by Shopping Slowly

Here are some suggestions from Woroch to help you save cash while taking your time with shopping:

• Create a budget and adhere to it. Establish a sensible holiday budget that covers travel expenses.
• Make a list of gifts. Follow your list strictly and discuss limiting gifts with friends.
• Look into price adjustments. After making a purchase, review the store’s policy on price adjustments. If the price has decreased, you may be eligible for a refund.
• Maximize coupon codes and rewards. Use your time wisely to search for coupons or rewards, which you might get by signing up for the store’s email alerts or mobile notifications. If you have rewards from credit or debit accounts, be sure to utilize them.
• Enroll in free trials for complimentary shipping. Certain retailers provide membership programs with free shipping for a limited time. Sign up to enjoy these benefits, but remember to cancel your membership before the trial ends if you don’t want to continue, warned Woroch.