By: Do-It® Corporation
What is impulse buying? Simply put, impulse buying is when you buy goods on a whim, without planning to do so in advance. Retailers have done countless hours of research into what makes a consumer impulse buy. It is a huge money maker, after all. In this post, we will look at the four main reasons consumers tend to impulse buy.
- Some people love shopping
There are a lot of people who experience a lot of joy through acquiring something new. Sometimes the act of purchasing something new can create a feeling of empowerment and control over one’s life that can become addicting.
- We have limited time
This is sometimes called heuristics which are our unconsciously remembered rules of thumb. When we see something that looks like a good deal, we don’t usually have the time to get out our phone and cross reference the price or even quality of the item. Retailers often make things looks like a great deal or attach Do-It Bottle Neck Hang Tabs to offer a free item to give consumers the impression that they’re getting a great deal.
- We’re loss averse
Humans try and make decisions that will keep them from feeling bad or regretful in the future. This loss aversion can contribute to impulse buying through the use of discounts or sales that won’t last long.
- We love to “save” money
It’s nearly impossible for most consumers to resist the desire to save money or even time by buying in bulk or buying multiple sale items all at once even if there isn’t an immediate need for them. Retailers and manufacturers use our desire to save money to sell items by featuring how much money will be saved by buying the product.
At Do-It Corporation we carry many styles and varieties of hang tabs, including bottle neck hang tabs which encourage impulse buying.