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Early Retirement SG

11.11 a day of mindless shopping

20/11/2018

2 Comments

 
Few days back it was the usual 11.11 shopping day. Also known as singles day.

Don't know why people decided that they needed a special day for induced spending. But humans are generally illogical so what can I say right?

Anyway, in many of my normal group chats, people were discussing what they were buying. Other friends were asking for help to "slash" the prices off their Lazada purchases. Apparently if you get your friends to click a link, you can get a discount for certain items.

As I was going about my daily life that day, I kept rolling my eyes... Are there so many things that need to be purchased? If there was no Singles Day, would they have made those purchases?

My wife also decided to make some purchases from taobao. She decided that she would order some gifts in preparation of Christmas for her colleagues. I supposed it's somewhat necessary to give a token gift when working, I also used to give a token gift to my teammates when I used to be working. My wife's purchases wasn't too expensive so it wasn't too big a deal.
​
The thing I understood from 11.11 was that, people want to spend. They like to spend. They want excuses to spend. And by creating a reason to spend, like 11.11, retailers are able to induce people to buy more things that they usually wouldn't...

Which leads me to my next post... Christmas...


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2 Comments
Livefrugal
20/11/2018 05:37:51 pm

Wouldn't buying gifts on 9/9, 10/10 or 11/11 in preparation for Christmas be cheaper than intending to buy Christmas gifts just before the actual day?

Reply
ERSG
20/11/2018 06:15:14 pm

Hi Livefrugal
Yes I agree. If it's for gifting purposes or real needs, then I think it's probably better to buy on promo days.
The thing is many people buy additional stuff they they dont need on such days just cos it's cheaper. And that's induced spending.

Reply



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    This is the link to my first post... how it all started...
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    Mindset changes
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    Male, born in 1982. 
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    Graduated with a degree majoring in Banking & Finance, Financial Adviser for a period of time resulting in in-depth knowledge of insurance products and marketing techniques of the industry.

    Inspired by MMM and ERE.

    Decided to embark on a mission to retire early in Singapore, a place where such an idea is considered impossible. As I believe that life has a lot more to offer instead of just a working career. I've decided to start a blog to note down my journey to achieve this mission and help others along the way who are willing to listen and try doing things differently from everyone else.

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