Buyer's remorse

Buyer's remorse is an example of post-decision dissonance, where a person is stressed by a made decision and seeks to decrease their discomfort.

Low rewards matched with these three conditions will most likely result in buyer's remorse via cognitive dissonance.

The following scale was developed by Sweeney, Hausknecht, and Soutar in a study to investigate three elements (one emotional, two cognitive) of buyer's remorse.

In this extension of cognitive dissonance, the duality of satisfaction and intention are separate phenomena within buyer's remorse.

[7] Another possible explanation, at least among more sophisticated buyers, is that persons who are dissatisfied with a purchase that they made on impulse may blame that dissatisfaction at least in part on their own failure to thoroughly consider whether the product will satisfy their prior expectations even if it performs as advertised, thus blaming any discrepancy at least in part on themselves (via their own impulsivity) rather than on the purchased product (via any sort of difference between its promised and its actual attributes and/or performance).

Opportunity costs associated with alternative choices compound and create strong feelings of dissonance and remorse.

The constant comparison to one's expectations induces regret, which reduces the satisfaction of any decision, even if it fills the individual's needs.

Indeed, if the purchase meets an individual's goals there will be less post-purchase dissonance which means there will be less remorse and greater decision satisfaction.

One specific technique employed by marketers is the inclusion of a coupon towards a future purchase at the point of sale.

First, the consumer is more likely to return to the store with the coupon, which will result in a higher percentage of repeat customers.

Each successive time a purchase is made and is deemed satisfactory, buyer's remorse is less likely to be experienced.

This technique is highly successful at lessening buyer's remorse because it immediately makes the decision a changeable one.

In addition, legislation exists in various parts of the world enforcing the right to a cooling-off period, during which contracts may be cancelled and goods returned for any reason, for a full refund.