Summary
Impulse buying is synonymous with holiday shopping. Think about it – you walk into a store, with your gift list for family and friends and all the best intentions, but something catches your eye from a great display and your cart has now exceeded your list.
Well, you are not alone as 9 out of 10 holiday shoppers typically do just that! Fast forward to 2020, however, which will be anything but typical.
Impulse buys are more difficult to motivate online during a massive shift to online buying, with ecommerce penetration now estimated in the mid-20% range. Still, according to recent research from Valassis, 35% of consumers recognize and consider themselves to be predominantly impulse shoppers (up from 28% in 2019). Retailers are well attuned to this behavior, stocking impulse goods they expect to fly off the shelves. These extra purchases cater to consumers’ desire to treat themselves and buy something unexpected, all part of experiential shopping. While retailers regularly look to capitalize on it, the process is being disrupted by the pandemic.
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