It’s a word we often see to promote products or services. But does ‘free’ always mean exactly that? It can seem too good to be true – and sometimes that may prove to be the case. It’s important to consider what you might be giving up in exchange for a ‘free’ offer. And what is it about that word that piques our interest? Here, we’ll investigate the psychology of freebies and the costs that may be attached.
The Psychology of Free
Of course, we would all rather have something for free than pay for it. And that can make us feel like we’ve earned money rather than simply saving it. Social experiments have found most people will opt for free items over heavily discounted ones – even when the price drop is not as great. And it’s important to remember that brands aren’t giving things away to be charitable. They aim to encourage you to spend more on something else or return in the future.
The Reality of Free Products
Let’s look at some examples. Where businesses offer free shipping, they still need to cover the price of delivery. So, in some instances, they build that extra expense into the price of the product. The same goes for promotional offers, where you spend a certain amount to receive a gift. The full-price item likely incorporates the cost of that gift.
What Are You Giving Up?
Taking advantage of ‘free’ shipping or promotional products is one thing. But there may be some services you sign up for that ask for your personal details. This is where you need to think carefully about how businesses are collecting your data and what they’re doing with it. Is this information that you’re happy to share? And in some instances, free services are not as beneficial as paid ones. For example, free VPNs could come with the risk of weak encryption, low speeds, fewer servers, and a lack of customer support. Getting a free trial VPN of a paid service will let you see the difference for yourself.
So, What Should You Do?
It’s important to use your better judgment at all times. Samples in the supermarket are a rare example of ‘free’ really meaning free. There’s no cost attached and no obligation to buy. But when it comes to using ‘free’ services that ask for potentially sensitive data, you need to be careful. Consider how that information might be used. Could it be passed on to other parties for them to contact you? If so, ‘free’ might be a price you’re not willing to pay.
