Impulse buying occurs when an individual; either due to a sudden urge or strong desire, pays for a good or service without having any previous plans to do so.

impulse_buying

What influences your buying? This is an important question you might want to think through before you answer. People usually buy due to various factors such as sudden discount offer on price of a product, the manner in which a product was marketed, media advertisement, possession of a credit card, higher level of income and sometimes the eagerness to impress others while shopping.


Not only is there a positive side of buying on impulse, but also there is the negative aspect of it. Impulse buying in some cases can result in saving some money, when a good quality product is bought at a reduced price. However, it could as well lead you into financial difficulties  when you spend beyond your budget. In addition, you discover that some of the products you buy on impulse, sometimes you end up not using them.


The next time you have that strong and sudden urge to buy that production order to be on as safe side, you might first of all want to ask yourself if you really need it.

Kelly Smith