Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
Bargain Fever summary
Mark Ellwood
How to Shop in a Discounted World
15 mins
Table of Contents
Bargain Fever
summarized in 8 key ideas
Audio & text in the Blinkist app
Key idea 1 of 8
When you see a bargain, your brain releases the “feel good” hormone dopamine.
At one time or another, most of us have bought a product we didn’t really want or need, simply because it was on sale.
But why is it that we get so excited by the prospect of a discount?
The answer lies in the human brain: the sudden possibility of receiving a discount activates a flow of dopamine, a chemical which is considered part of the brain’s reward system. The moment dopamine is released, we feel elated and excited.
However, as we learn to expect a discount, that excitement begins to wane. This was demonstrated in the following experiment. A rat was dropped into a maze in which a small treat was hidden in the center, and its dopamine levels were monitored.
The first time the rat located the treat, its brain released a massive surge of dopamine. However, after it had found a treat a few times, the amount of dopamine released was practically zero.
Why? Because the rat expected to find the treat in the maze’s center. In short, the element of surprise had diminished.
Our response to discounts works in a similar way: in order for discounts to prompt a dopamine-fueled rush of excitement, they have to surprise us and exceed our expectations. Say you’re visiting your favorite electronics store with the intention of purchasing a new TV, and expecting to pay full price. If you see a “50 percent OFF!” sign as you enter the store, a dopamine surge – and the excitement this produces – is all but guaranteed.
Why, then, do we sometimes find it harder to resist purchasing discounted products than at other times?
If there’s too much dopamine coursing through the brain, we’re less able to control our behavior. An overabundance of dopamine limits the functioning of the brain region responsible for weighing the pros and cons of any action – the dorsolateral prefrontal cortex (DLPFC).
This dopamine flood can be caused by stress; thus, when we’re anxious, we’re prone to respond unreasonably to discounts and special offers (e.g., “buy one, get one free”) and to make impulsive purchases – even of products we really don’t need or want.
Want to see all full key ideas from Bargain Fever?
Key ideas in Bargain Fever
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is Bargain Fever about?
Bargain Fever explores the world of bargains, discounts and coupons, and explains why we’ll sometimes go to extreme lengths to find a good deal. Using many illustrative examples, the author presents an account of the history of bargains, explains how they influence our shopping behavior and speculates on what discounts will look like in the future.
Best quote from Bargain Fever
So our brains are primed hormonally to react to bargains, in thrall to every squirt of dopamine.
—Mark Ellwood
Who should read Bargain Fever?
- Anyone who loves to go bargain hunting
- Anyone interested in the history of bargains and discounts
- Anyone who wants to know why a bargain is often hard to resist
- Entrepreneurs who want to understand customer psychology
Categories with Bargain Fever
Books like Bargain Fever
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked
Start growing with Blinkist now
26 Million
Downloads on all platforms
4.7 Stars
Average ratings on iOS and Google Play
91%
Of Blinkist members create a better reading habit*
*Based on survey data from Blinkist customers