Why We Feel It and How to Avoid It
Written by Emma Agupusi
We’ve all been there. You spot something shiny—maybe a trendy new gadget, a pair of shoes you didn’t need, or a kitchen appliance that promises to revolutionise your life—and before you know it, your card is swiped, and the item is yours. For a brief moment, you’re riding high on that sweet dopamine rush. But soon after, reality hits. What is this sinking feeling in your stomach? Oh yes, the dreaded buyer’s remorse.
Buyer’s remorse is that all-too-familiar feeling of remorse after making a purchase, often one that didn’t turn out as fulfilling as we imagined. So why does it happen, and more importantly, how can we avoid it? Let’s dig into the psychology of buyer’s remorse and arm ourselves with tools to make better decisions while laughing at our past spending missteps.
Why Do We Get Buyer’s Regret?
Buyer’s regret happens when the purchase doesn’t live up to our expectations or when we realise we didn’t really need or want the item after all. It’s a combination of emotional, psychological, and sometimes financial factors. Here are some of the common reasons why we experience buyer’s remorse:
1. Impulse Buying
That instant gratification hit from making a purchase is hard to resist. We’re biologically wired to seek pleasure, and buying something new gives us that dopamine boost. The problem? Once the initial high wears off, we’re left questioning whether that impulse purchase was really necessary.
2. Social Influence
Have you ever bought something because it seemed like everyone else had it? Welcome to the world of social influence. Whether it’s friends showing off their latest purchases or social media influencers pushing products, we often feel the pressure to keep up. The result? Buying things we don’t really need and then wondering why we caved in the first place.
3. Marketing Magic
Brands and advertisers are experts at playing on our emotions. They create the illusion that their products will solve our problems, make us happier, or even change our lives. Spoiler alert: that new gadget probably won’t make you a better person, but the marketing was so convincing that we bought it anyway.
4. Overestimating Utility
Sometimes, we buy things with the best intentions—like those home gym equipment pieces that are now just clothes hangers. We overestimate how much we’ll use something, and when reality sets in, we feel that pang of buyer’s remorse.
5. Financial Pressure
When we realise the dent a purchase made in our budget, regret can quickly follow. It’s one thing to buy something you don’t need, but it’s even worse when it jeopardises your financial well-being. Money stress is a surefire way to turn excitement into regret.
The Different Flavours of Buyer’s Remorse
Buyer’s regret isn’t one-size-fits-all. It comes in different shapes and sizes, depending on what’s driving the remorse. Here are a few “flavours” of the buyer’s remorse you might recognise:
- “I Can’t Afford This.” Remorse: When you realise that your purchase has thrown your finances off balance and you’re wondering why you didn’t just walk away.
- “This Was Pointless.” Remorse: You bought something that seemed great at the time, but now you’re not even sure why you thought you needed it.
- “Why Didn’t I Do More Research?” Remorse: After some googling post-purchase, you discover that you could’ve gotten a better deal, or worse, that the product isn’t as amazing as advertised.
- “I Only Bought This Because of FOMO.” Remorse: You fell for the fear of missing out (FOMO) and now own something that everyone else has, but you’re not even sure you really like it.
How to Avoid Buyer’s Remorse
Thankfully, buyer’s remorse is avoidable with a little forethought and a few smart strategies. Here are some tips to keep your purchases in check and minimise those feelings of regret:
1. Sleep On It
Before making any non-essential purchase, give yourself a waiting period. If you see something you want, take 24 hours (or even a week) to think about it. If, after the waiting period, you still really want the item and it fits within your budget, go for it. More often than not, you’ll find that the impulse fades and you don’t feel the need to buy it anymore.
2. Set a Budget (And Stick to It!)
Nothing makes buyer’s remorse worse than realizing you’ve blown your budget. Create a spending plan that accounts for discretionary purchases and stick to it. Knowing you’ve allocated “fun money” can reduce guilt and keep your spending in check.
3. Evaluate Need vs. Want
Ask yourself, “Do I really need this, or do I just want it?” There’s nothing wrong with buying things you want, but being clear on your motivations helps prevent remorse. A practical purchase (like something that solves a problem) is less likely to leave you feeling remorseful than a spur-of-the-moment splurge.
4. Do Your Research
One of the most common sources of buyer’s remorse is buying something without doing proper research. Before hitting that “buy now” button, spend time reading reviews, comparing prices, and making sure the product truly meets your needs.
5. Avoid Retail Therapy
Shopping when you’re stressed, sad, or bored is a recipe for disaster. Instead of turning to retail therapy, find healthier ways to boost your mood, like exercising, talking to a friend, or practicing mindfulness. Your wallet—and future self—will thank you.
6. Unsubscribe from Temptation
Marketing emails and flash sales are designed to trigger impulse purchases. Unsubscribe from retailers’ email lists, avoid the temptation to scroll through shopping apps, and limit your exposure to advertisements. Out of sight, out of mind!
What to Do If You Already Have Buyer’s Remorse
So, you’ve made the purchase, and buyer’s remorse has set in. What now?
1. Check the Return Policy
First things first: Can you return it? Many retailers offer generous return policies, so if you’re feeling regret, look into returning the item for a refund or exchange. Just make sure to act quickly—many return windows are time-sensitive.
2. Resell It
If returning isn’t an option, try reselling the item. Online marketplaces like eBay, Facebook Marketplace, and Poshmark can help you recoup some of the costs. Sure, you might not get back the full amount, but getting something back is better than nothing.
3. Learn From It
Use your experience as a learning opportunity. Reflect on why you made the purchase and what led to your buyer’s remorse. By understanding your behavior, you can prevent similar situations in the future.
Conclusion: Embrace Mindful Spending
At the end of the day, buyer’s remorse is a common experience that most of us will encounter at some point. However, with a little mindfulness, we can reduce the chances of making regretful purchases and cultivate smarter spending habits.
By understanding the psychology of spending, questioning our motivations, and following practical steps like waiting before buying and setting a budget, we can make more intentional choices. Remember, buying something doesn’t have to come with regret—as long as you take the time to think it through and make sure it aligns with your values and financial goals.
So, the next time you’re tempted by a must-have deal, take a deep breath, pause, and ask yourself: “Will this bring me joy, or am I about to invite the buyer’s remorse into my life again?” Chances are, you’ll thank yourself for hitting pause instead of “buy now.”