We’re continuing our “Why We Buy” series on Take Control Tuesday with Mansa Musa, and this week, we’re looking at a sneaky way retailers can influence what we choose.
It’s called the decoy effect.
Think about a movie theater. You see three popcorn sizes. The small costs $6. The medium is $8.50. The large is $9.
Suddenly, that large popcorn looks like a bargain. For just 50 cents more, why not go big?
But Mansa wants us to stop and ask a different question: How much popcorn do you actually want?
That small shift in thinking can help you recognize when a choice is being influenced by the options around it.
A Few Highlights
- The decoy effect changes how we see value. One option can make another choice look more attractive, even when we didn’t originally want it.
- “For just a little more” can add up. You might see it with streaming plans, cell phones, appliances or cars. That extra $1,500 may feel small next to a $37,500 purchase, but it’s still $1,500.
- More isn’t always better. A larger size or upgraded option may offer more for your money. That doesn’t mean you need it.
- Ask three questions before upgrading: Do I need more? What will it cost? Is it actually worth it?
The goal isn’t to avoid every upgrade or always choose the cheapest option. Instead, make sure you’re making the choice—not the comparison.
As Mansa says, getting more for your money isn’t always the same as getting the most from your money.
So the next time you hear yourself say, “For just a little more, I might as well…” pause. That could be your cue to take control.
You can find more Take Control Tuesday conversations and check out the archives at TakeControlTuesday.com.