Implications: Humans are fascinating people.
Another example of financial infidelity that I’ve used over the years is when someone buys a ($500 golf club, laptop, or other) big-ticket item, and pays for it partially with cash, partially on the household bank card, and partially with a credit card. It is, in effect, laundering the household money so that a purchase is not easily traced. When one describes this dastardly behavior in front of a hundred people in a consumer trends workshop… it’s funny how many people in the audience start to blush!
The difficulties that many people went through a few years ago—and the slow recovery they have been experiencing since—have imposed new financial realities on a lot of households. In what could only be called a cultural consumer shift, many folks have denied themselves the kind of indulgences that were commonplace in the pre-recession economy. It only makes sense that eventually, people would become fatigued, act on the idea of pent-up demand, and move forward with some small (and some not-so-small) indulgences. Even if their partner might not know about it.
Have you made a purchase, or stashed some cash, without telling your spouse or partner about it?
Are your customers thinking about doing it as they walk through your business?