You’re feeling down in the dumps.

Listless… sad… worried… bored…

So what do you do?

Well, one thing a LOT of people do (and I’m no exception here) is buy something that makes them feel better.

For me, it’s quite often a vinyl record.

I go to a shop like Rough Trade or Sounds of the Universe and browse the different listening posts until I find that sound which gives me a buzz when I hear it.

Even better if it’s got great artwork on the sleeve.

I genuinely love the joy of discovering something new… taking home a shiny new object… and letting the needle drop, crackling, onto the vinyl.

Sometimes, I need an even quicker fix, so I go onto a website like Boomkat and browse the sound files online, then place my order, feeling that lovely dopamine hit.

That often does the trick.

Occasionally, in real emergencies, I opt for a food fix.

I’ll nip out to a local corner shop and get a bag of Galaxy Minstrels!

It’s not just about the sugar rush…

It’s just as much about that transgressive, naughty indulgent act – that feeling of giving into impulse because… well… to heck with it all!

What about you?

What do you spend money on that makes you happy?

Maybe it’s a record, a book, a video game, a piece of tech, a meal, a clothes item, a night in the pub…

Or maybe there’s something unusual that you collect like an antique clock, rare stamp or a Star Wars figure, which gives you a big rush when you buy it, even if it means you cannot afford to buy fuel for your car that week!

For instance, I remember a copywriting colleague telling me that when he was younger he moved into a draughty, decayed London flat that he could barely afford to decorate.

So what did he do?

Obviously, he spent his only remaining money on a massive painting.

“I lay on a mattress on the floor in the empty room, just staring up at it in pleasure,” he told me, clearly revelling in the memory.

It doesn’t make sense does it?

Except, if you run a business or any kind, it makes COMPLETE sense…

Because all marketers know that human beings are emotional creatures.

We tend to buy things based on those emotions, rather than rational analysis.

Which is why, even when we’re strapped for cash, many of us will splash out on a treat or luxury – even if we cannot really afford it.

It fulfils something deep inside us, even if that’s only fleeting.

And it’s something you should consider when you’re choosing a product or service to start from home during these difficult economic climes.

What People Buy in Tough Times

This topic was the subject of a radio phone-in I heard last week on Radio 4’s ‘You and Yours’ programme, which I had on in the kitchen while I was cooking lunch.

The title of the show was ‘What Do You Buy That Makes You Happy?’

The premise was that we’re all cutting down on what we spend.

An unusually damp and gloomy February saw a retail downturn of 2.2%

It’s not only the weather but the high cost of living, which is still biting hard, making many items harder for people to afford – or justify spending their cash on.

And yet…

While people are reigning in their spending on everyday essentials, they still indulge in buying certain products which give them guaranteed joy.

Michelle rang in to say, “I cannot stop buying books…. No matter how bad life is…”

Matt said, “I choose to spend my money on analogue photography…like old cameras.”

Janet rang in to confess that she spends her money on TAXIS!  She likes to “Sit at the back like Lady muck’, and get taken into the centre of London.

Jackie told the show that he had started to spend money on ballet classes for the over-50s.

While Mitchell admitted that he gets a kick out of paying for 3D printing.

Laurence said that when he’s unhappy he gets the urge to buy new camping gear and then wander onto a moor to sleep beneath the stars.

And another caller admitted that in tough times they purchase an eyeliner pencil. (“With my eyeliner I escape into a different world” she said.)

So what does all this mean for you?

Well, two things…

First…

This is Great Trend-Spotting Fodder

If you’re hunting around for ideas about ways of making money, I recommend you listen to this show – and others like it – because it gives you a great insight into what people want, and WHY they want it.

These are powerful trends that you could profit from!

You can hear it on the BBC website here.

For instance, one expert on the show talked about the growing trend for ‘Insperiences’, which got a massive boost in the pandemic, and is still rising thanks to the cost of living crisis.

An ‘Insperience’ is where you bring the things you do in the outside world for fun (music gigs, cinema, restaurant dining, etc) into the home.

This could be something to tap into with your own product or service.

Secondly…

Find the Emotional Trigger that Makes People Buy

If you want to hit upon a profitable product idea – whether it’s an eBook, third party Amazon product, membership site or digital course – it’s a good idea to find the emotional driver that motivates people to buy.

Impulse buying accounts for between 40% and 80% of purchases, according to a Shopify report.

And in a survey by credit provider Vanquis at the end of last year, 50% of responders said they spend impulsively because ‘they enjoy treating themselves’ and nearly a third admitted that they make ‘spontaneous purchases to make themselves feel better’.

Social psychologist Wilhelm Hofmann has done research into this, and concludes that our urge to buy a product in order to make us happy is all about the activation of a ‘cluster of associations’ in our long-term memory.

When we buy something and it gives us pleasure, it permanently links that pleasure to the product… which deepens every time we do it.

Eventually, the associations are so powerful that it becomes almost irresistible – to the point where you might make the purchase without even thinking about it!

So what kind of product could YOU find (outside of illegal drugs!) where certain people out there simply CANNOT do without it, even when the economy’s tanking and the rains are falling?

What could you sell that has a small but dedicated group of super-fans?

It could be analogue camera aficionados, middle aged dancers, home cinema fans, craft beer drinkers, hill walkers, rare book collectors….

When you KNOW what that trigger impulse is in your target customer, you’ll be able to create effective listings and advertising that truly hits the spot.

Remember, it doesn’t have to be that you create a physical product yourself….

You could think in terms of eBooks, manuals, guides, newsletters, review services, membership sites, online courses, digital planners and other information products.

Or you could think in terms of affiliate products, white labelled dropship products and Amazon third party products.

There are lots of ways you can tap into deep desires and strong trends without having to compete with big manufacturers, and without needing to create something new or inventive.

If you want to know more about some of the options available, then please do write to me and let me know – I’ll make sure I get the info into a future issue!

Oh, and going back to my question:

What do you buy that makes you happy?

I would genuinely love to know – comment below! 😉