Impulse spending is a very real thing. We all do it, whether we recognize it or not. And it’s a topic that’s particularly relevant to FinCapDev. In fact many of you, Finalists included, are building apps to curb this pesky habit. So for those that are interested, we’ve collected a reading list you might find useful. Happy Reading!
- Impulse buying: Modeling its Precursors (Sharon E. Beatty, The University of Alabama, M. Elizabeth Ferrell, Southwestern Oklahoma State University, Journal of Retailing, Volume 74, Issue 2, Summer 1998, Pages 169–191) Abstract: A model of the precursors of impulse buying is presented and empirically tested with data drawn at two points in time (during pre- and post-shopping interviews) from a regional shopping mall setting. Analysis of the data, utilizing LISREL 8, supported most of the predictions. Situational variables (time available and money available) and individual difference variables (shopping enjoyment and impulse buying tendency) were found to influence a set of endogenous variables, including positive and negative affect, browing activity, felt urge to buy impulsively, and ultimately, whether or not an impulse purchase occurred. Future research and managerial implications are addressed.
- The Influence of Culture on Consumer Impulsive Buying Behavior (Jacqueline J. Kacen, Department of Business Administration, University of Illinois at Urbana-Champaign, Julie Anne Lee, Department of Marketing, University of Hawaii–Manoa, JOURNAL OF CONSUMER PSYCHOLOGY, 12(2), 2002, 163–176) Abstract: Impulse buying generates over $4 billion in annual sales volume in the United States. With the growth of e-commerce and television shopping channels, consumers have easy access to impulse purchasing opportunities, but little is known about this sudden, compelling, hedonically complex purchasing behavior in non-Western cultures. Yet cultural factors moderate many aspects of consumer’s impulsive buying behavior, including self-identity, normative influences, the suppression of emotion, and the postponement of instant gratification. From a multi-country survey of consumers in Australia, United States, Hong Kong, Singapore, and Malaysia, these analyses show that both regional level factors (individualism–collectivism) and individual cultural difference factors (independent –interdependent self-concept) systematically influence impulsive purchasing behavior.
- The Product-Specific Nature of Impulse Buying Tendency (Michael A. Jones, University of Tennessee at Chattanooga; Kristy E. Reynolds, Louisiana State University; Seungoog Weun, Dong-A University, Pusan, South Korea; Sharon E. Beatty, University of Alabama, Journal of Business Research, Volume 56, Issue 7, July 2003, Pages 505–511) Abstract: Previous studies have treated the impulse buying tendency as a generalized consumer trait consistent across product categories. This study extends previous conceptualizations and treats impulse buying tendency as context or product category specific. The results indicated that a product-specific conceptualization of the impulse buying behavior was a better predictor of actual impulse purchasing behavior when compared to general impulse buying tendency for two product categories. In addition, involvement was found to be an important variable impacting consumers’ tendencies to purchase products of a particular product category on impulse. Implications and areas for future research are also addressed.