ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Impulse buying is the sudden and immediate purchase of a product without any pre-shopping intention. It occurs after shoppers experience an urge to buy, and is often spontaneous without any hesitation. Think of impulse buying as the power of temptation.

Detailed explanation-2: -Impulse buying means you purchase something without planning to do so beforehand. Say you’re at the grocery store. The gallon of milk, which is on your list, isn’t an impulse buy. The candy bar that you throw in your cart on a whim, after spotting it on the shelves in the checkout line, is an impulse buy.

Detailed explanation-3: -Planned impulse purchase The fourth type of impulse purchase is so called planned impulse purchase. This type of purchase is often triggered by low price or an offer. And again, the customer ends up buying something he does not need, or buying more than he needs.

Detailed explanation-4: -: merchandise (as inexpensive or luxury items) likely to be bought on impulse or without significant forethought as opposed to staple or essential goods.

Detailed explanation-5: -The 4 types of impulse buying are: pure impulse (like buying candy at the check out), suggestion impulse, reminder impulse, and planned impulse. For social commerce, suggestion impulse, reminder impulse, and planned impulse can all be triggered to convert a sale.