Tips to Avoid Impulse Buying

Almost everyone has made an impulse purchase at some point in their lives, whether it’s a candy bar at the grocery store checkout, a pair of sneakers in the mall or the irresistible “buy now” email from your favorite store. In fact, according to a recent survey, 90% of consumers age 18 to 43 admit having made an impulse purchase, caused either by emotional motives or social influence.¹

What is impulse buying?

Impulse buying is when you purchase something on a whim without planning to do so in advance. Most of the time, impulse purchases bring joy in the short term but aren’t always necessities. If impulse buying becomes a habit, it could lead to a cycle of debt and make it harder to achieve your savings goals.

Why do people make impulse purchases?

According to the survey, 41% of shoppers said they made impulse purchases when they felt upset.² For 38% of consumers, social influence played a role.³

Age can also be a factor. Millennial and Gen Z shoppers are more likely to impulse buy than older adults who may have better self-control or budgeting experience.⁴

External factors, such as marketing, sales and store organization can also impact impulse shopping. A targeted ad on social media may make you more likely to click and purchase.⁵ An email about a sale ending soon may give you a sense of false urgency, leading you to buy something you weren’t planning on.⁶ And even the way a physical store is set up, with small convenience items close to the register, can tempt you to pick up a few extras on your way out.⁷

9 ways to avoid impulse buying

So what can we do to avoid overspending on impulse buying? Let’s explore how you can resist it.

1. Plan what you need

Whether you’re shopping online or in person, you may want to make a list (either on paper or in an app) of the things you need so you can stay within budget and avoid making an impulse purchase.

2. Research your purchases

A key to smart shopping (especially online) is researching purchases ahead of time to get good deals and avoid impulse buying. If the need isn’t urgent, see if you can wait for the item to go on sale. Also, be sure to compare the same item at different retailers and see if any offer coupons. You can even check out comparison shopping engines which allows you to easily compare prices from several retailers at once.

3. Know your habits

If you know certain stores or certain aisles are too tempting for you, avoid them if you can. Many retailers now offer online shopping with curbside pickup, so you won’t be as tempted as you might be in person by anything that’s not on your list.

4. Ask yourself questions

Sometimes, you forget to put an item on your list. That’s okay, but if you see something that you think you need, pause and ask yourself a few questions. Do you really need the item? How will you use it? Can you buy it later? These questions will give you a minute to think and let the impulsive moment (if it actually is impulsive) pass.

5. Bring a friend

If you’re struggling with impulse buying, ask a friend to go shopping with you. It may help to have someone alongside you who’s aware of your goals so they can talk you out of an impulse purchase.

6. Leave the tags on

When it comes to clothes, leave the tags on for at least a week. That way, you can try them on at home and take some time to think about how they fit in your wardrobe. Only remove the tags after confirming you really need each item and you’re comfortable with the cost. Otherwise, return the clothes to get your money back.

7. Unsubscribe from online retailers

Many online retail websites are designed to encourage impulse buying.⁸ You can avoid unplanned visits to your favorite sites by unsubscribing from their email lists and unfollowing them on social media.

8. Use the 50-30-20 budgeting rule

Creating a budget is a great way to avoid impulse spending. A common budgeting method is to set 50% of your income aside for needs, 30% for wants and 20% for savings or repaying debts. Knowing you only have 30% of your income to spend on wants may make you pause and think about what you truly want before making an impulsive purchase. Plus, it can help you plan better for long-term financial goals.

9. Ask for help

If impulse buying feels hard to manage, there’s no shame in asking for help. A 2022 study estimated that 5% of the U.S. population shops compulsively.⁹ Shopping addiction is real, and it’s not entirely uncommon. Thankfully, support and treatment options are available.

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Cut back on impulse buying and start saving more

Many people struggle with impulse buying from time to time. But the better you can curb impulse spending, the better you can save money and stay focused on financial goals. Carefully considering your purchases and using these tips could help get you on track to lead a healthy financial life.

Sources:

1,2,3 https://www.badcredit.org/studies/gen-z-and-millennial-impulse-purchases/
4. https://www.statista.com/statistics/1484170/impulse-shopping-habits-by-generation-usa/
5,8 https://www.usatoday.com/story/money/2024/09/11/impulse-shopping-costly-habit/75155564007/
6,7 https://www.cnbc.com/select/how-to-avoid-impulse-buying/
9. https://www.sciencedirect.com/science/article/abs/pii/S2352250X22000331