Impulse Buying – Are you also buying such things which you do not need? If you have bought such things just after seeing attractive ads and extra sale and have kept your cupboard barred, then understand that you have also become a victim of impulse buying.
What is Impulse Buying?
You are thinking, What is impulse buying?” Then come, let me tell you all in detail. Impulse buying means shopping for unnecessary things without understanding them properly, which we do not need at all.
In today’s blog, I will give you all 11 mindful tips so that your shopping will be on the right things and you do not buy useless things and keep them stored in your house, and so that your money is saved and you can spend that money at the right place.
How can we understand impulse buying?
Impulse Buying is such a feeling in which a lot of our emotions are filled. Any brand and marketing agency attacks this feeling of ours through its tricks and we buy things that we do not need without thinking and understanding.
On hearing Ads, social media, and “limited time offer”, we start losing our control completely, and even if we don’t want to, our mind tells us to buy the product even if we do not need it.
Psychological Reason
Instant Happiness (Instant Gratification)—Whenever we see any kind of attractive advertisement, our happy hormones make us happy instantly, and to satisfy our instant happiness we make unwanted purchases.
FOMO – Any kind of advertisement is shown in front of us in such a way that if we don’t buy it now, we might not get this offer in future.
Stress Mind – Sometimes we like to do shopping to control our stress mind.
Marketing Tactics
Flash Sale – Flash sales are always seen on T.V. or social media ads. It becomes almost impossible to control oneself.
Countdown Time – Nowadays brands put a countdown time on every offer so that whoever is watching the ads keeps thinking that the offer is going to end soon and we have to buy it.
“Only few left in stock” – This line is old. Earlier it used to be used in our local market and now it is used online as well.
Disadvantages of impulse buying
Financial Burden – If we shop without any need and without thinking, then the expenses will go out of our budget, which can spoil our budget.
Savings Goal Fail – Everyone wants to have some savings at the end of the month, but due to impulse buying, our savings goal fails.
Buyer’s Remorse – When we shop without any need, then somewhere or the other we regret why we bought it.
11 mindful shopping tips to help you avoid impulse buying
Now I am sharing some tips with all of you by which you too can avoid impulse buying like me.
- Make a shopping list- Whenever you have to shop, make a list and then recheck it to find out what you need.
- Set a budget limit-set a budget limit for how much shopping you want to do every month so that it does not fall short of your savings goal.
- Make Cash Payment – Use cash while shopping so that you save time in carrying it and you will avoid shopping next time.
- Decision during sale time – Whenever you see any sale or discount, think before buying and take the decision.
- Control of Emotional Spending – Whenever you are in a bad mood, avoid shopping, because at this time you end up shopping more than necessary.
- Shopping Time Limit – Limit your shopping time, whether it is online or offline. The less you scroll, the more you will avoid impulse.
- Always keep your budget in front of you – If you make a budget for your entire month, then always keep it in such a place that you can see it in front of every expense. By doing this, you will be able to control yourself.
- Ignore ads – Ignore any kind of ads, be it on TV or social media; this will help you avoid buying unnecessary things.
- Make an accountability partner – If you have someone with whom you share all your things, i.e. trusted friends, then definitely consult them before shopping.
- Don’t forget to track your expenses after shopping – keep tracking all your expenses, so that you can control your expenses in the future.
Practical Example: Case Study
Reetu, a sales executive, used to spend money every month on unnecessary shopping. One day she adopted a shopping list and 24-hour rules. In just 3 months, she saved Rs 10,500.
FAQs
Q. What is impulse buying?
Ans. Shopping that is not planned is called impulse buying.
Q. How to avoid emotional shopping?
Ans. Whenever you are stressed or extremely happy, avoid shopping and control yourself.
Conclusion
Do not ruin your budget and savings with impulse buying. Develop smart and mindful shopping habits and achieve your savings goal. Always remember that the more you save, the better you are making your future. So always spend after thinking, and spend only on necessary things.
How did you all like today’s blog? All of you please share your experiences in our comment box, so that I and others can also get help.
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