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Impulse buying is not only about sales and marketing. It’s about our personality traits, emotions, self-identity and self-control.
Brands and marketers understand how these facets of the human psyche a�ect shopping habits; especially over the holidays.
Everyone makes impulse purchases
$20.00$10.00
Well, at least over90% of us do
88% of impulse buys areprompted by a sale
Buyers are 23% morelikely to make impulsepurchases on an unplannedshopping trip
Buyers are 13% lesslikely to make impulsepurchases on a plannedshopping trip
time for a shopping spree
THE HOLIDAYS ARE HERE!The �ychology of Impulse Buying
TRANSPORTATIONmakes a difference
Arriving at a store by footinstead of by car decreasesthe change of impulsepurchases by 44%
SENSESplay a big role in purchase
Buyers are heavily influenced byatmosphere–smells, sounds andsights–while shopping
Buyers average 3 impulsepurchases in 40% ofshopping trips
Negative emotions such asanger, guilt, boredom, or stressoften contribute to impulse buys
Up to 5% of adults areaddicted to impulseshopping
Impulsive buying dropsby 53% when buyers areshopping for forgottenitems or immediatenecessities
Up to 20% of grocerybills are from impulse buys
Single adults make 45%more impulse buys thanmarried adults
�y are we compelled to purchase?
Does shopping make people happier?
Studies suggest a link between common
personality traits and impulse buying
Studies show that impulse buying is correlated
with positive emotions
Some people may be more prone to impulse buying as
a result of negative emotions
Those who equate possessions with success are more
susceptible to impulse buy
Ways to market There are many ways to trigger impulse buying. Here are the top 3
1 . ITEM TYPES
IMPULSE BUYS TEND TO BE
2 . PRODUCT PLACEMENT
PRODUCT PLACEMENT
Location is everything
Shoppers are more likely to
purchase small holiday gifts
around the register
3 . PROMOTION
PROMOTION
Discounts and sales draw
major attention
Placing non-sale items next
to sale items makes them
more attractive
Sale�ice!
IT’S THE MOST WONDERFUL TIME OF THE YEAR… TO SHOP.
�at’s driving your impulses?Sourcesuie.com/publications/whitepapers/ImpulseBuying.pdfkent.ac.uk/kbs/documents/res/working-papers/2011/234_2011.pdfselfgrowth.com/articles/Five_Life-Changing_Facts_About_Impulse_Buying.htmlpsychologytoday.com/blog/consumer-behavior/201303/five-reasons-we-impulse-buybiomedcentral.com/1741-7015/9/90/abstractindependent.co.uk/life-style/health-and-families/depression-rates-higher-in-wealthy-countries-study-finds-2326414.htmlhibbertmcgee.com/increasing-impulse-purchases-buying/betabait.com/the-impulse-shopping-fact-sheet/
$
chocolate
2 for 1
Impulse Purchases are rarely things we need, instead
they are usually things that make us feel good
Psychologists link impulse purchases to a sense of
- Control - Empowerment - Boosting self-esteem - Self-regulation
Loss Aversion isNOT WANTING TO MISS OUT
Loss aversion is the human characteristic of
trying to avoid future negative feelings
We are highly motivated by sales because we feel
bad if we miss an opportunity
Strategically placed sale items trigger
our fear of loss
DelusionYEP… NOT KIDDING
We buy things on sale and disregard any
previous outcomes
We buy gym equipment thinking it will cause us
to work out - it doesn’t
We purchase a new car thinking it will make us
happier - it doesn’t
The impressionOF SAVING MONEY
We are hardwired to accumulate items over time
The ideas of “value” and saving is highly motivational
Marketers play on this innate motivation through
sales, packaging, and wording like "30% more"
Small
Inexpensive
Fulfill a need or desire
The PleasureOF PURCHASING