What is Impulsive Buying? Definition of Impulsive Buying, Impulsive Buying Meaning - The Economic Times (2024)

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What is Impulsive Buying? Definition of Impulsive Buying, Impulsive Buying Meaning - The Economic Times? ›

Impulsive buying means making an unplanned purchase. It is based on an irrational thinking. Marketers try to tap this behavior of customers to boost sales. There is a great likelihood that customers end up making a purchase of products after entering the hypermarket without any actual intent of doing so.

In the field of consumer behavior, an impulse purchase or impulse buying is an unplanned decision by a consumer to buy a product or service, made just before a purchase. One who tends to make such purchases is referred to as an impulse purchaser, impulse buyer, or compulsive buyer.

The impulse buying meaning refers to these quick, unplanned purchases made on emotional desire rather than logic. The impulse buying definition is unplanned and sudden buying without considering needs, affordability, or consequences.

There are four different types of IB: Pure Impulse Buying, Reminder Impulse Buying, Suggestion Impulse Buying, and Planned Impulse Buying (Hosseini, Zadeh, Shafiee, & Hajipour, 2020).

Impulse buying definition

According to the Consumer Financial Protection Bureau (CFPB), an impulse purchase is usually unplanned and may lead to someone spending more than they can afford. And when it comes to making buying decisions, it might help to think about a want versus a need.

Impulse buying can result in more spending which can lead to less savings and even an increase in debt. There are steps you can take to reduce impulse buying, such as prioritizing financial goals and sticking to a shopping list.

An example would be buying a candy bar at the checkout aisle of a store because you suddenly crave something sweet after seeing it. Reminder impulse buying: You see an item or remember a certain thing that reminds you that you need a separate item.

Make a list and stick to it. Seeing your planned purchases can help keep you on track so you're less tempted to purchase things you don't really need or want. Set limits. Setting the amount you plan to spend beforehand can help you stay thoughtful while you shop.

Impulse Buying and/or Compulsive Shopping: Frequent Consequences of ADHD. A new leather jacket, a modern flatscreen TV, a fancy car – spontaneous, ill-advised purchases are not uncommon with ADHD. Quite the contrary, we know today that a true shopping addiction can be a possible consequence of ADHD.

This is when we purchase things we don't really need in order to comfort ourselves from big, difficult feelings. We might know it as impulse spending. So what's going on in the brain to cause this? Shopping stimulates the prefrontal cortex; the region of the brain that's responsible for feelings of reward and pleasure.

What are two ways to avoid impulse buying? ›

If impulse shopping is a problem for you, shop only with a responsible buddy, someone who supports you and your financial goals. Step away from social media for a while and remove retail apps from your phone if you struggle with impulsive online shopping. Another tactic is to just use cash.

One effective strategy to control impulse spending is the 24-hour rule. If you find yourself tempted to make an impulse buy, wait 24 hours. Often, the urge to purchase will pass, and you'll make a more rational decision.

Definition: Impulsive buying is the tendency of a customer to buy goods and services without planning in advance. When a customer takes such buying decisions at the spur of the moment, it is usually triggered by emotions and feelings. Description: Impulsive buying can't be categorized for one specific product category.

Giving in to an impulse buy won't help you achieve your financial goals—whether that's getting out of debt, paying off your mortgage, or investing for your future. Buying on impulse and overspending will eat up any extra money you were saving to put toward those awesome goals. So don't shoot yourself in the foot here.

Some experts say it's a form of impulse control disorder rather than a true addiction. 3 Read on to learn about shopping addiction, including signs, causes, ways to cope, and more.

Emotions and mood play a role in both positive and negative ways, personality traits impact impulsive tendencies, and cognitive biases and heuristics affect decision-making processes. Situational triggers, including store environment, time factors, and social influences, also contribute to impulse buying behaviour.

Impulsivity due to poor executive functioning is one of the most common — and most expensive — symptoms of ADHD. It prompts individuals to open their wallets for unplanned purchases which often go unused, and which sometimes — though not always — become a source of regret.

Compulsive buying disorder is the maladaptive preoccupation with buying/shopping, or excessive buying/shopping that does not occur exclusively during periods of hypomania or mania.