What Is Slow Shopping and Can It Save You Money This Holiday Season?

The holiday season is upon us and before you know it, it’ll be time to open up gifts. But before that comes shopping—and many people overspend.

If this sounds like you, you’re not alone. In fact, despite economic woes, consumers are expected to spend more this year than they did last year. However, people are being urged to take their time and avoid impulse buys. And how do they do that? Slow shopping.

So what is slow shopping, and how much of an impact can it have?

What Is Slow Shopping?

Slow shopping is the opposite of impulse buying. Instead of just snatching something up off of a shelf or clicking the “buy” button immediately, consumers are urged to think about their purchases.

The idea is to be more mindful and avoid overspending or taking on unnecessary debt inspired by a short-lived emotion.

The Growth of the Trend

While the “trend” has been practiced for some time, a recent Affirm survey revealed 73% of shoppers plan to engage in slow shopping this year.

More than half of those say it’s a way to ensure they’re only buying items they want and just over a third say the practice gives them time to research items before they purchase.

How Does It Save Money?

Impulse buying is one of the worst ways to one, destroy a budget, and two, overspend. Yet, so many people do it. By taking the time to evaluate each purchase, you may eventually decide it’s not worth it in the end, or you might stumble upon a deal or promotion for it.

Either of those options will result in spending less money. The idea is to consistently practice slow spending and not just once or twice. If you do it right, it can save your budget from ruin.

How to Avoid Impulse Buying

There’s a certain kind of rush that comes with impulse buying, but it’s often followed by regret. The downside to the high, so to speak.

There are a few ways you can avoid impulse buying. Try planning out your shopping list by making a note of what you plan to purchase for those on your holiday list. Shop deals and holiday events like Black Friday or Cyber Monday, but remember to stick to the items you jotted down. Spending more because of a sale is still spending more.

Start Shopping Earlier

To avoid a budget crunch or spending too much money at one time, it’s a good idea to space out your shopping. Many people start after Halloween, as consumer spending typically increases significantly during this time. But you can shop all year long.

If you know what you plan to buy someone, there’s no reason why you can’t pick a gift up over the summer. This will also help space out your spending. Just remember to note what you bought to avoid duplicates.

Avoid Credit Cards

It is so tempting for many to use their credit cards for holiday shopping and then pay it off after the season. The problem with that is, most people don’t follow through on paying off the debt and carry it over into the next holiday season.

That means you’re paying a lot more for gifts than you originally intended. Instead, budget for the holiday spending and only commit to what you can afford.

What Other Methods Can You Use to Save Money?

There’s no reason to go into debt for the holidays, especially when it’s supposed to focus on spending time with your loved ones. A good solution to keep costs low is to do a gift exchange, where people pick names from a hat. That way everyone gets a gift and nobody goes broke.

It’s okay to be a minimalist when it comes to holiday shopping. Prioritize the important aspects of the season, instead. Your wallet will thank you.