Contents
- What is an impulse purchase?
- Factors that contribute to impulse purchases
- Products and services with impulse demand
- Reasons for impulse purchases
What is an impulse purchase?
An impulse purchase refers to a spontaneous acquisition of a product that occurs under the influence of both internal and external factors. Most often, these purchases are unplanned, and the person makes the decision to buy based on a promotion, a temporary discount, or simply to boost their mood. For example, a large discount or an attractive cashback can serve as a strong incentive for making an impulsive purchase, as the buyer seeks to gain a benefit.
For businesses, such unplanned purchases are beneficial as they contribute to an increase in sales volume, an increase in the average transaction value, and an overall increase in profit. However, it is worth noting that some sources use the term "impulsive purchase," but this is not entirely correct. The concept of "impulsive" is tied to the character of a person, while purchases should always be referred to as impulse purchases.
Factors that contribute to impulse purchases
There are many factors that can provoke impulse purchases. These include:
- Psychological triggers: Emotions such as joy, sadness, or boredom often lead to spontaneous spending. For example, people may buy sweets to lift their spirits or gifts for loved ones.
- Attractive offers: Discounts and promotions in stores are powerful tools for stimulating purchases. For instance, a "2+1" offer can significantly increase the likelihood of a spontaneous purchase.
- Social norms: Public opinion and the desire to follow trends often encourage people to make unexpected expenditures, especially during festive seasons.
Products and services with impulse demand
Impulse demand is characteristic of inexpensive and compact products. Examples include:
- Sweets (candies, chocolate bars, gum, ice cream)
- Beverages (water, soda, coffee to go)
- Printed materials (newspapers, magazines)
- Household items (napkins, sponges, candles)
- Accessories and small wardrobe items (hair ties, socks)
- Stationery (ballpoint pens, notebooks)
- Cigarettes and lighters
This category can also include any products purchased under favorable conditions, such as discounted televisions or promotional cosmetics. Additionally, it encompasses unusual and emotionally appealing products, such as colorful children's toys or cups with original prints. Research shows that Russians often make impulse purchases of clothing, food, home appliances, and other items.
Reasons for impulse purchases
According to VTsIOM data, more than half of Russians (57%) make spontaneous purchases. The main reasons contributing to this behavior include:
- Emotions: Positive and negative feelings play a key role in spontaneous spending. People often buy flowers, souvenirs, or sweets to express their feelings.
- Desire to gain benefits: Discounts and special offers encourage people to shop immediately, without hesitation.
- Public opinion: Pressure from society and the desire to keep up with trends also contribute to impulse spending.
Thus, impulse purchases represent an interesting and multifaceted phenomenon that influences both consumer behavior and the sales strategies of companies.