Impulsive purchasing behavior is a habit of buying unnecessary products out of curiosity.
The companies and businesses trap consumers to buy the products and services. The consumers do not really plan to buy these products, but end up buying them.
Every time they visit the market or the mall, they pick up the items dearly discounted by the company that didn’t think of buying.
Impulse buying behavior of consumers often put them at risk of spending too much. Due to this behavior, the businesses trap them. For instance – creating extra gadgets like smart band, fitness band, headset, etc.
Factors Affecting Impulse Buying
We do not buy something when we are low on budget, but when we have the facilities to do so.
Here are the four factors affecting impulse buying –
- ATM Facility
- Credit Card Options
- Presentable Advertisements
- Social Groups
The start of the month when you just get the salary, you scroll through the shopping apps and buy products you won’t even use much or isn’t a necessity. Similarly, while buying the groceries, home products and clothes.
4 Types Of Customer Buying Behavior
The impulse buying behavior of consumers are categorized into four.
- buying behavior.
- Dissonance-reducing buying behavior.
- Habitual buying behavior.
- Variety seeking behavior.
Complex Buying Behavior
Complex buying behavior means to think before investing money into something.
The consumer will consult others, have good time analyzing the product, go through different options before just buying them and this is generally considered while buying an expensive thing.
Dissonance-reducing Buying Behavior
The customer won’t go for options. They look for products that are easily available. Basically, won’t invest time in searching the same products in different brand. If some brand is in front of their eye, they will buy it.
This is like buying any phone since all of them can be used to make a call to fulfill the need at the hour.
Habitual Buying Behavior
The impulse buying behavior of a consumer is also connected to habitual buying behavior.
Habitual buying behavior is buying the products from the familiar brands. Even when there’s no need and a new product from the brand is launched, they happen to buy them.
There’s trust for some brands they buy from. So, they don’t give purchasing much thought.
Variety Seeking Behavior
The consumers often look for different taste, brand and quality in variety seeking behavior.
If they bought a juice from some brand, they will try the same juice of another brand for taste checking. This happens unintentionally – out of curiosity.
The consumer is so obsessed with the varieties that they can’t hold on to one brand, they constantly want to try different companies, low price products, and discounts.
Thus, the marketers have to adapt to the consumer purchasing behavior. They put forth the discounts, coupons, strategies and attract customers based on the impulse buying behavior.
Even the malls keep the same products of different brands in the same shelf to attract customers. They know that they will go for the best discounted offer and next time they come they will try another brand.
They are constantly practicing the consumer buying behavior to be able to grow in the market.