I love thinking about the connections between money and psychology, so this deep dive into BOGO deals from The Hustle newsletter was right up my alley:
"Studies have shown that consumers will buy two of something when the word ‘free’ is involved, even when they only need one — and the second item often ends up in the trash. If we walk into a store intending to buy one carton of milk, but encounter a BOGO deal and buy 2 cartons, we’ll almost invariably waste that second carton."
As a household of one in a small apartment, I often leave the BOGO behind at the store. Cashiers will look at me like I've lost my marbles. But if it's expiring food that I know I won't use, and I don't have a friend or neighbor in mind to take advantage of the spare, it makes more sense to just get what I need.
I feel the same way about "Two for $X" deals at CVS etc. Sometimes I CAN use two of something, so I stock up. But most of the time, I really only need one — or I've peeked at the unit price and don't think the deal is worth it!
What do you think? Are you BOGO fan or foe?