Hello learners. It is Fenrir. Today we are going shopping but not just with our wallets. We are shopping with our brains.Hi everyone. I am Leda. I am here to help you navigate the tricky world of online ads and social pressure.Greetings. I am Charon. I will help you understand the true value of what you buy and the costs you might not see.And I am Aoede. I want to make sure you know your rights and how your shopping affects our beautiful planet.Let us start with the price tag. Did you know that the biggest price tag is not always the most expensive? This is why you must know how to calculate the unit price. Imagine you are buying cereal. A big box costs ten Euros. A small box costs six Euros. The small box looks cheaper right? But if you look closely the big box has one kilogram and the small box has only half a kilogram. The unit price of the big box is ten Euros per kilo but the small box is twelve Euros per kilo. The big box is actually the better deal. Always look at the price per unit usually written in small print on the shelf. Also be aware that prices change based on where and when you buy. A bottle of water at a train station costs much more than at a supermarket. You must also consider that the purchasing power of your money varies over time due to inflation. Five Euros today buys less than it did ten years ago. This is why we seek ways to manage the impact of inflation on money held usually by investing rather than just holding cash. Finally calculate the final consumer price. If you order something online from outside the European Union the price you see is not the final price. You may have to pay shipping costs and customs duties when the package arrives. Always add these up before you click buy or you will be in for a nasty surprise.That is right Fenrir. The price is just one part of the story. The digital world has changed how we see prices. You need to know that when purchasing products online the price of identical goods might be different for you than for someone else. This is called dynamic pricing. Retailers track your browsing history your location and even the device you are using. If they think you are willing to pay more they might show you a higher price. To fight this clear your cookies or check prices on a different device. You should use reliable online comparison tools to compare prices across different channels. But be careful. Understand that information obtained through these tools may be incomplete. Some comparison sites are paid by brands to show their products first so they are not impartial. Always verify the information yourself. Also be conscious of the role of advertising. Online adverts are tailor made to target you. Algorithms analyze your digital footprint to show you exactly what you are most likely to buy. This creates social pressure and a false sense of need. Marketing practices like pop ups and countdown timers are designed to trigger impulsive shopping. You must develop strategies to minimize this. One great strategy is the cooling off rule. If you see something you want wait twenty four hours before buying it. Usually the urge will pass.Resisting impulse is smart because money is limited. This brings us to a concept called Opportunity Cost. It sounds fancy but it is simple. Money you spent to purchase a certain good is no longer available for something else. If you spend fifty Euros on a video game that is fifty Euros you do not have for a concert ticket. You have to weigh the overall value or utility of the potential purchase. Ask yourself which one brings me more value? You also need to watch out for the Sunk Cost fallacy. This is when you understand that irreversible costs made in the past should not influence purchase decisions today. For example if you bought a ticket to a movie but you are sick and miserable do not go just because you paid for it. The money is gone. Do not waste your time too. Another huge financial drain is subscriptions. You must be aware when subscriptions end and if they will be renewed automatically. Takes into account the long term implications of purchases requiring repeated payments. Ten Euros a month sounds cheap but over five years that is six hundred Euros. Make an informed decision about the overall impact of options to spread payments over time. Sometimes paying a large purchase immediately is cheaper than spreading it out because you avoid interest.Thinking long term is exactly what I want to talk about. Every time we buy something we make an impact on the environment. We should look for sustainable alternatives. Can you buy it second hand? Can you buy a refurbished phone instead of a new one? Or maybe there is a substitute product that costs less and uses less plastic. There are also complementary products you might need so factor those in. When you do buy new look for sustainability labels. In the EU we have strict standards like the EU Taxonomy for sustainable economic activities. Look for the EU Ecolabel or other reliable certifications that prove a product is eco friendly. Be motivated to research existing standards and understand their meaning. Beware of greenwashing where companies just pretend to be green. Also remember you have strong rights as an EU consumer. If you buy something online you have a right of withdrawal. This means you can return the purchases made online or through distance selling within fourteen days for a full refund. You do not even have to explain why. Confident to use this right? You should be. If a product arrives and it is not what you expected send it back. Do not keep it just because you are too shy. And be confident to say no to a sales offer that is unsatisfactory. Whether it is a pop up ad or a pushy salesperson you have the power to walk away.I love that we have those rights. It makes me feel much safer when shopping online.Agreed. And remember you can say no. You can close the pop up ad. You can walk away from a bad deal. You are in control.Exactly. Calculate the real cost. Think about what you are giving up to make a purchase. And watch those subscriptions.And please shop with your values. Choose products that are good for you and good for the earth. Happy smart shopping everyone!
