Candy bar you added to the cart or a blouse you bought on your way back from work. As much as 60% of our purchases are unplanned (40 – 80%, depending on product category). 87% of Americans admits to impulsive buying. Millenials do it 52% more often that other age groups.
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The definition of impulse buying
Impulse buying happens when a hedonistic desire precedes and overshadows rational reflection about the purchase and its future consequences. It’s unplanned (although not all unplanned purchases are made on impulse). The time between the stimulus and a purchase shrinks.
Researchers indicate three characteristics of such behavior:
– are spontaneous and release positive emotions
– a consumer doesn’t think about consequences
– the purchase is a result of a hedonistic and uncontrollable urge to satisfy oneself with consumption.
Why we love impulse buying?
The pleasure of impulse buying has two dimensions. One thing is that we love the product we bought – just like with the planned purchase. But the second component is more important – it’s the instant gratification. We love the reward without waiting and earning. We simply do what we want, with no regard for repercussions whatsoever. We’re attracted to the idea of carefree indulging ourselves.
Rationalization
Humans, as intelligent beings (or rather beings convinced of their intelligence), can’t admit that their actions (such as impulse purchases) are senseless. That’s why we often produce a secondary rationalization of purchase (like “Actually I needed that”, “I would buy it anyway”, “It was a great deal”). Our brain is playing with us: we want to feel rational so much that we lie to ourselves and do two irrational things (the purchase and the lie) instead of just one.
Impulse buy as a symptom
Researchers claim that impulse shopping shouldn’t be analyzed in isolation: most often they are related to a general disposition to impulsive behavior in all areas of life. Such consumer is more childlike, seeks new experiences all the time, loves shopping and wants to be appreciated and recognized.
How to use it in marketing?
How to use that knowledge in designing marketing processes? Above all try to create an environment that fosters impulse buys
• Go for Mobile: Spontaneous shopping happens most often when we use mobile devices. Be sure that mobile shopping is user-friendly.
• Use push notifications based on geolocation: for example, when users pass by your physical store. When you offer a discount, you might trigger an impulse buy.
• Act and react in real time: tailor offers and content of the website to a particular user in real time. If she needs something, help find it. If she finds a product fast, she has less time to reflect upon consequences. Use dynamic banners (you’ll set these in Marketing Automation system).
• Use exit pop-ups: when a user wants to leave your e-store, offer a discount on the product she viewed or another incentive. Give additional motivation to buy!
• Suggest complementary products. When someone made a purchase decision, she might as well add something to cart. Suggest a product that matches the chosen one or a product fro the same category.
Post is based on the article:
Clinton Amos, Gary R. Holmes, William C. Keneson, A meta-analysis of consumer impulse buying, „ Journal of Retailing and Consumer Services.”
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