❝I do not read advertisements - I would spend all my time wanting things.❞ -Franz Kafka
I'm driving to a department store with my friend because we have a wedding coming up and he wants to buy a new shirt. It's 2004, and I work for a bank, so I don't need any new clothes because I have plenty of dress clothes. I'm along for the ride because we plan on going out for lunch afterward, and it's rainy and cold, so there's nothing else to do.
As he's trying things on, I wander around and look at what's on sale. One particular table has $60 shirts marked down to $20! I can't believe how great a deal this is! I quickly justify these shirts as being a good deal and buy two.
That's right, I didn't need any clothes, but I bought two shirts - for no other reason than they were on sale.
It might seem obvious or otherwise unnecessary to define what a sale is, but I will anyway. A sale is when the price of a good or service is reduced. That sounds simple enough, and most people already kind of know that.
There's an inverse relationship between the price of something and how quickly it sells. This might sound like an obvious statement, but it's important. Understanding this concept helps us get into the minds of the people offering the discounts.
Understanding why something is on sale is important to know if we want to determine if a sale is a good deal.