Unplanned Impulse Spending

Posted by Lydia Pine on Oct 24, 2019 3:37:21 PM

So, you’ve been out shopping all day, you’re tired and you’re drained. You head for the door to get to your car to go home! You still need to cook dinner and catch your favorite TV drama before bed! And you realize you forgot to get a gift for Auntie Mabel’s birthday in 2 days., not wanting to go back into a store, you see a kiosk that has an array of beauty items. Remembering that Auntie Mabel mentioned she doesn’t know how to pick lipstick colors; you have an epiphany and by several shades of lipstick for her to try out on her special day. Whew, got that taken care of, now what to do about dinner? A kiosk may not be able to help with dinner, but it can be a source of income for someone who is ready for the impulse buyer.

 Impulse Buying: The Buying of Goods Without Planning, Buying on a Whim or Impulse

Whether we want to admit it or not, there is an entire industry that is based around impulse buying behavior. At times it verges on predatory marketing. A kiosk offers the impulse buyer yet another option. They’re going to buy something anyway, so they might as well have the option to buy a quality product from your kiosk cart. If you stock high-quality items you can help these impulse buyers get more for their money, then some counter-top toy that breaks 5 minutes after they give it to their kids.

Consumers Spend Millions Annually on Impulse Buys

According to cnbc.com, on average a consumer spends over $5000 a year on unplanned impulse buys. With that much spending going on and the fact that they are going to continue this behavior, there is no reason not to cash in on the impulse spending tendency. As mentioned before, by selling a quality useful item you are helping them get more value for their spending.

Capitalize on the Impulse Buys

So, having a kiosk placed in an area noticeable to the impulse buyer is a good way to boost sales. Offering a good selection of quality products will inevitably lead to return business. You never want to act predatory as a business, but you also have an entire group of people who are going to spend regardless. Be ready and respectful and you will add another dimension of profitability to your business.



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