Have you ever found yourself grabbing chocolate at the supermarket checkout or splurging on sneakers when you were only meant to be window shopping?
If yes, then you have experienced a phenomenon called impulse buying, which refers to making spontaneous purchases without prior planning.
Source: forbes.com
While not all unplanned purchases are impulsive, impulse buying is characterised by an urgent desire to own something and feeling regret afterward.
While online shoppers are more likely to be impulsive, research shows that 62% of in-store purchases are impulsive.
Source: sciencedirect.com
Another research shows that offline shopping is more conducive to impulse decisions than online shopping. Its appeal lies in the sensory experience that online shopping lacks.
Source: pmc.ncbi.nlm.nih.gov
Impulse buying finds its roots in various factors including the emotional state of the buyer, needs, visual stimuli and marketing, among others.
Emotions like desire, fear, aspirations, excitement and cognitive biases like loss aversions or FOMO are some of the biggest drivers of impulsive buying.
Source: monkprayogshala.in
When a person is experiencing stress, their brain’s decision-making processes take the back seat and emotional impulses take over.
Source: monkprayogshala.in
Isolation, extended periods of leisure, low self-esteem, anxiety, depression and boredom have been linked to unhealthy shopping habits.
Source: forbes.com
When one contemplates impulsive purchases, dopamine (happy reward chemical) levels surge in anticipation of the pleasure, overriding the decision-making processes.
Source: monkprayogshala.in
Advertisers curate an aesthetic and visually stimulating environment while using emotions in marketing campaigns to influence people to indulge in impulsive purchases.
Source: forbes.com
Understanding the emotions and psychology behind impulse buying can help people become more self-aware about their spending habits and psychological well-being.
Thanks for reading!
See next