Every person has to shop things from time to time. Shopping is a part of our day to day life because it is requisite to supply our families with the basic necessities. Some do shopping to escape the stress built within them and they enjoy by doing so. They find it as a way of relaxing from the monotonous life. While some consumers plan the things that they need to buy before hand by preparing the list of items for every week/month, they surf through the price tags to afford the good quality products at the lowest price, there are others who indulge in impulsive buying. It is the tendency of a customer to buy goods and services without planning anything in advance. When a customer makes impetuous decisions to buy products off the cuff, it is usually provoked by emotions and feelings. Impulsive buying is not just restricted to few products it can be observed on a wide range of goods like clothing, electronic devices, jewellery, sports pieces, pastries and so on, by the consumers when they get fascinated with a sudden impulse.
TYPES OF IMPULSE PURCHASES:
- PURE IMPULSE BUYING – The consumers crack their normal pattern of consumption
- REMINDER IMPULSE BUYING – When the consumers sees items in the shop that they forgot to add to the shopping list before, they purchase them when he/she is reminded by seeing those things displayed in the stores.
- SUGGESTION IMPULSE BUYING – When the customers notice things that they never used or seen before they plan to buy them at the moment by a conviction that it would be very obliging.
Dealers try to exploit this behavior of the customers to promote their sales/services. The hyper markets tries to captivate people from the entrance of their space. They provide a great window display which increases the curiosity of potential customers, introduce combo packs using the demand of the primary products for the sale of secondary products, work with brands, offer suggestions with new products and influence the mind of customers and such plentiful tricks. Marketing companies are more likely to get benefitted because of this trait because customers end up purchasing products even without any actual intent of doing so.
Some of the customers even realize this when half of the wallet is swiped off as they return back to home ending up with random products which may not be of a great use to them. A study published in the June 2008 issue of the Journal Of Consumer Research suggests that consumers are more susceptible to impulsive buying from one brand over another when distracted while shopping. Consumers are also likely to make an impulse purchase, when a consumer perceives that the environment is over stimulating. Emotional appeal contributes largely to impulsive buying. Scientists state that this happens because some items help us feel better and temporarily dampen our unhappiness. Some customers want to stock up things even when there is not an immediate need for them. Many get attracted on the spotting of discounts on products and at times our brain get fooled by the idea that we are getting a good deal and get defeated.
How to get rid of impulsive buying ?
- Design a budget and cling to it. A budget doesn’t all of a sudden save all your money we should sincerely stick to them. If not planned for a budget don’t go in for spending money.
- Try not to shop when you are emotional. It takes an major part in triggering a person to go for an impulsive buying. We just buy things in the thrill of the moment and later realize the unnecessary investments made. Retail therapy just makes you feel goo at the spur of the moment.
- Have a clear monitor on the budget and savings and review it every month. By this we can avoid the dispensable products.
- When shopping on a larger basis find support and accountability which can go a long way in refraining us from impulsive buying.
- When tempted to buy a new product go through its reviews and we can realize the worth of buying such products.
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