Impulse Buying on the Rise—It Gets Tougher for Consumers

The supply chain instability and inflation have not affected American consumer behavior, as consumers still crave to buy, buy, and buy. Impulsive purchasing has long been a hindrance to achieving financial objectives and plans. But this has not stopped consumers from indulging.

Slickdeals reports that Americans spend $314 per month on impulsive purchases, up from $276 in 2021 and $183 in 2020. The same study says 64 percent of U.S. adults admit to an increase in their impulse spending in 2022.

Seventy-three percent of respondents said most of their purchases tend to be spontaneous, as against 59% from the same period last year.

Given the unfavorable odds for customers, resisting the urge to buy seems impossible from businesses taking advantage of consumers’ irrational impulses to other economic forces outside their control and internal conflicts that trigger emotional buying.

Consumers Can’t Help It

One may assume that the primary focus of impulse purchases would be on the most basic needs, namely groceries. On the contrary, the analysis found that clothing leads at 35% of purchases, followed by groceries at 30%.

Data shows that fashion e-commerce accounts for approximately 23% of all online retail sales in the United States and has been steadily growing over the last two decades.

It’s impossible to manage money perfectly. Occasionally, getting carried away is OK. However, if you discover you are spending more than is necessary, consider why this occurs. Think about previous impulsive purchases and work to limit them going forward.

Additionally, spending on purpose makes you joyful and shields you from the guilt and regret that can occasionally accompany impulsive purchases.

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