Posted by Brad Tuttle Wednesday, December 15, 2010 at 9:13 am

When retailers roll out flash sales and deep discounts, the actual price of the freshly marked-down merchandise is only one factor enticing shoppers to buy. Rather than carefully considering whether the item is worth the newly discounted asking price, consumers are often prompted to buy during a short-lived sale because stumbling upon one makes them feel special and lucky—even fortunate to have been chosen to participate—and because of worries they'll feel left out if they miss out on the discount when the sale expires. It's amazing how psychology and retail strategies work: When you think about it, these two pressures aren't that different than the familiar scene at middle school recess—when everybody wants to be chosen in a game of kickball, and nobody wants to be left out.