Why do limited offers on Black Friday get us so excited? Spoiler alert – it’s not the actual products.  It comes down to a sophisticated blend of marketing tactics that combine psychology with data and creative finesse. 
 
As the holiday season kicks off, British consumers are set to find themselves at the centre of a fierce advertising showdown. Deloitte’s 2024 Holiday Retail survey predicts consumer spending will rise 8% this year, with brands investing heavily in ever more sophisticated campaigns designed to capture our hearts, prime our impulses, and ultimately open our wallets.  
 
With Black Friday marking the unofficial start to the Christmas shopping period, it’s no surprise that the spotlight falls so brightly on this retail event.  
 
But what is it about these limited time deals that fuels such immense excitement? It’s less about the products themselves and more about the powerful combination of psychological tactics, data insights, and creativity at play. 

1. We worry we’ll miss out 

We’ve all experienced it - scrolling through online shops and spotting messages like ‘Only 5 left’ or ‘Hurry while stocks last’. These messages trigger our sense of urgency and deep-seated fear of missing out. From a psychological perspective, in any setting, the pain of losing something often far outweighs the pleasure of gaining it. When a product is positioned to feel scarce or time sensitive, we’re driven to act quickly to avoid losing out.  

Scarcity and FOMO (fear of missing out) tap into two distinct but incredibly powerful motivators. Scarcity hinges on availability – when an item is perceived as rare or finite, its value skyrockets. FOMO, on the other hand, taps into our desire to be part of collective experiences. And the shopping experience on Black Friday feels communal. It’s not just about buying products – it’s about being part of an event that millions of others are joining in on. 

Black Friday brings scarcity and FOMO together – fuelling a feedback loop that powers impulsive decisions. Limited stock (scarcity) paired with visible buyer activity (FOMO) accelerates our decision making, raising the likelihood that we’ll buy on the spot.   

2. We see the price as a perception, not as value 

On Black Friday, most deals boast bold discounts. The original price – often displayed prominently – acts as an ‘anchor’, a mental reference point that shapes how we perceive the sale. When we compare that initial price to the reduced one, it feels like a massive saving, even if that original price might was inflated or not a true reflection of the item’s real market value. 

This anchoring effect is a well-worn tactic in retail. Displaying a high original price next to a discount, or offering several price tiers alongside a more expensive premium option, makes the lower-priced options appear more affordable. Even bundled products rely on the anchoring effect: by establishing an initial high price, the bundle suddenly seems like a great deal.  

This anchoring effect works because our brains are wired to make relative judgments. We rarely see prices in relation to value – instead, we see them in comparison to the original anchor.  Anchoring creates a mental shortcut that simplifies complex decision-making. Faced with a high anchor, we’re more likely to evaluate subsequent prices in relation to it, allowing us to skip any deeper analysis and jump straight to a buying decision.  

3. We have a herd mentality  

Black Friday deals often emphasise how certain products are ‘bestsellers’ or have been bought by ‘15 others in the last hour’. This tactic taps into our herd mentality, compelling us to follow the crowd, especially when it seems like others are already shopping for the same product. 
 
This is the principle of social proof at work - our tendency to adopt behaviours based on what others are doing. If a product is popular, we naturally assume that it must be a good choice. Social proof appears in many forms: reviews, ratings, testimonials, or simply seeing others buy the same product. This desire to align with others is hardwired into us – we feel safer being part of the majority.  
 
When combined, these psychological triggers make it hard to resist the urge to join the others who are already shopping for a specific product – our choice is simplified and all but made for us. If everyone else is buying a particular item, it signals that it’s a safe decision, eliminating our need for in-depth research and making us feel like we’re making a sound choice. 

4. We prefer limited options 

Black Friday brings a noticeable shift in the way products are showcased. Instead of an overwhelming array of options, we often see streamlined selections – spotlighting only the most popular or high-demand items. This reduction in choice is not accidental – fewer choices make decisions easier and quicker.  

When we have too many options, we can become overwhelmed, which leads to decision paralysis - a state where we’re so overloaded with choices that we struggle to make any decision at all. On the other hand, having fewer options can make us feel more in control, decisive, and happy with our decision.  

During Black Friday, retailers leverage limited options to reduce decision fatigue - and with fewer products to choose from, we are more likely to make a quick purchase.  

5. We crave instant rewards 

Our desire for instant gratification drives many of our purchasing decisions, and it is exactly what Black Friday sales tap into - encouraging quick, impulsive buying. It’s a basic human desire rooted in our psychology - when we see a chance to gain something immediately, we’re likely to jump on the opportunity. This promise of instant rewards bypasses our logical brain, appealing to our emotions instead.    

When we anticipate an immediate reward, our brain’s reward system releases dopamine. This surge happens when we see a time limited deal, making us feel excited and compelled to act. Black Friday promotions are designed to activate this drive. From short time deals to countdowns that show how quickly a sale is ending, the event is tailored to give consumers instant rewards, feeding into the need for immediate satisfaction.  

For marketers and retailers, Black Friday presents an opportunity to tap into powerful psychological principles that drive consumer behaviour and boost sales. However, the power of marketing psychology comes with responsibility – and it’s essential that they understand how to apply these techniques ethically, without manipulating or misleading customers. 

Ethical marketing doesn’t mean avoiding persuasive techniques. It is about using those techniques responsibly to build trust and deliver value.  

When marketers understand and apply marketing psychology ethically, they can maximise their chances of success while ensuring that customers have a positive, rewarding experience that extends far beyond Black Friday.