Impulse buying is a behavior in which a person makes a whimsical purchase without a financial plan or pre-shopping intention.

Psychology Of Impulse Buying

Impulse buying activates the reward system in the brain, releasing bouts of dopamine, in other words, providing us with instant gratification. 

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Impulse buying often provides temporary relief from negative emotions, while getting our happy hormones to work. 

However, impulse buying can later lead to regret or self-reproach when we realize that the expenditure was probably unnecessary and avoidable. 

Signs Of Impulse Buying

1. Spending money without prior planning 2. Visiting stores that trigger impulse purchase 3. Feelings of quick satisfaction following unplanned purchase 4. Frequently returning unplanned buying due to regret 5. Experiencing money problems frequently

What Motivates Impulse Buying?

1. Individual Factor

1. Low self-esteem 2. High levels of anxiety 3. Depressive symptom 4.  High body-image dissatisfaction  5. Negative moods (like sadness) 6. Inability to cope with stress 7. Strong tendencies to develop obsessive-compulsive disorder

2. Environmental/ External Factor

1. Advertising—especially advertisements on social media 2. Influencer culture promoting certain brands and products 3. The glamorization of “retail therapy” 4. The store environment 5. Price reductions and discount 6. Product packaging and  placement, etc.

1. Financial difficulties and stress (like debt) 2. Disruptions in normal decision-making processes 3. Emotional distress or disappointment in impulsively purchased product 4. Developing irrational tendencies that favor instant self-gratification 

Effects of Impulse Buying

5. Accumulation of unnecessary items in living space 6. Risks of developing mental disorders like hoarding disorder, obsessive-compulsive disorder, etc.

Impulsive Buying Can Also Cause Hoarding Disorder. Know below!

1. Make a monthly budget and stick to it. 2. Make a fun money fund and permit yourself to make small splurges. 3. Take a limited amount of cash when you go shopping. 4. Rethink and wait for a few days before purchasing an item. 

How To Stop Impulse Buying

5. Shop with a plan in mind.  6. Uninstall online shopping apps on your phone to prevent impulse buying.  7. Avoid using credit cards and online payment methods. 8. Chalk out a long-term financial goal.  9. Consider seeking help from a counselor.

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