Definition of Impulse Buy
What does the term "impulse buy" mean? What is the definition of the term "impulse buy"?
An "impulse buy" occurs when a person makes an unplanned purchase, usually due to some sort of a clever advertising push.
For instance - let's say that you are standing in line at the grocery store, ready to buy your single gallon of milk. As you are drawing close to the cashier, you notice that there is a special - two Snickers bars for just $1.50. Even though you weren't planning on buying any chocolate bars, you decide that it is just too good of a deal to ignore. The purchase of a chocolate bar would be an "impulse buy".
Impulse buys can apply to large ticket items as well.
Let's say that you walk into a car dealership with the intention of just looking around. You take out a car on a test drive and before you know it, you are signing papers for the purchase of a new $50,000 vehicle.
You had absolutely no intention of buying a new car but decided to anyways. This is an "impulse buy".
Big ticket impulse buys often lead to feelings of "buyer's remorse".
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