Introduction
The unplanned purchase of a consumer is known as impulse buying. This means buying without planning to, or because of emotions and the urge for instant relief as opposed to being a shrewd consumer. Some non economic reasons that people end up buying things impulsively Great. Great Post Daniel and understanding the psychology behind these purchases may be able to help people figure them out and stop doing that.
Aspects of Psychology Causes of Impulse Buying
1. Things that you will regret
Feelings can also play big role in buying things on the certain time. When people are not in their senses and feel happy, sad and stress they use to spend their money without thinking. They do this task just to make their mood better or boost it. There is one well known idea known as retail therapy which means shopping will not be good if you are mentally ill.
2. Felling good
When individuals feeling low or bad they go for shopping and make impulsive purchases because they are absent minded. Your brain releases dopamine when you are going to buy anything on sudden idea. This strengthens your behaviour and you make this mistake again and again.
3. Social Influence
Many things can force you for impulse action like group pressure, social anxiety and need to fit into upper class. Many people use to make sudden purchases just because of fear of losing it. This phenomenon is known as FOMO fear of missing out. This phenomenon occurs when people feel left out or mentally disturbed.
4. Buying things and ads
Today advertisers and marketers conspire to make people spend without thinking too much. Short lived deals, whim based sales, all make users feel that they need to decide on it quickly or else it gets out of their hands and they get stuck in a choice without much thought.
5. The “Retail Environment”
Retailers and shop owners make the structure and atmosphere of the shop very carefully. That environment will automatically encourage customers to buy things without thinking. When there are more bright lights, appealing displays and goods display very well, customers use to buy more things as compared to their needs.
6. Psychological Pricing
You can also manipulate people by putting the price which ends with .99 dollars and also give massive discounts on bulk purchases, this action looks like you are getting good deal. This make customers to buy more items without thinking.
Ways to Stop Buying Things on the Spot
1. Being aware and being mindful
You can stop yourself from buying unnecessary things by avoiding your spontaneous buying habits. People can easily define what they have to buy or what they have to ignore with the help of mindfulness exercises. Before making purchases you have to think about it whether it is need or want.
2. Making a Budget
If you are following your budget very seriously so you can easily avoid overspending. If you are putting some money aside every month for any kind of emergency so it will help you to keep on your budget. To understand your spending habits you have to track your costs this tracking will help you to avoid you to buy unnecessary things.
3. Delayed gratification
You can control on your impulsive purchases by putting time limit on it. Like you can follow the rule of 24 hours in which you have to wait for a day before buying anything. This time will give you one more chance to think about it more logically and help you to decide is it need or want.
4. Limiting your exposure to triggers
If you can cut down on marketing triggers so it will help you to stop buying any thing on the spot. You can do this by unsubscribing from brands emails, staying away from shopping malls and websites. If you are following any model or influence so unfollow him because they can also force you to do impulsive purchases.
5. Cash Over Cards
You can pay by cash for your purchases instead of card this will help you to spend less. When you give cash instead of swapping card will help you to spend less because you can clear observe your spending.
6. Looking for Help
If you want to keep your self on track then you can get help from your family members and friends by sharing your idea of stop buying things. They will motivate you and encourage you for savings. You can take advice from financial experts or professionals for more accuracy.
Conclusion
When you come to know about these psychological factors then you can also able to build habit of spending wisely and become more financial stable. Also give you control on your spending and consumption of things. You can save more money by applying on these tips.
FAQs
What impulsive buying mean?
When you purchase anything on impulse you don’t have planned to, you just want to purchase because that makes you feel better it because you want to or because you’re feeling good right now.
Why do people buy things impulsively?
We usually buy on impulse for the wrong reasons emotions, peer pressure, marketing schemes and instant gratification as well.
How can I tell if I buy things on the spur of the moment?
Purchasing an item on impulse leads to bad feelings, feelings of guilt or feeling the need to buy items to make you feel better and to cope with stress.
What are some ways to stop buying things you don’t need?
These are easy strategies like budgeting, waiting a few days before making a purchase, shopping with a list and minimizing your shopping experience with marketing stimulus, etc.
How does buying things on a whim affect your finances?
Impulse buying can cause you many problems which will make you regret in future like financial problems, breaking down your savings and also your outfits. This cause your saving hard task and you can’t reach your goals.
