The Psychology of Impulse Buying: An Integrative Self-Regulation Approach |
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Authors: | Bas Verplanken Ayana Sato |
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Institution: | (1) Department of Psychology, University of Bath, Bath, UK |
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Abstract: | Impulsive buying grossly violates the assumptions of homo economicus. A variety of perspectives on impulse buying are presented, which have been put forward in consumer, economic, social, and
clinical psychology. These include heuristic information processing, time-inconsistent preferences, personality traits and
values, self-identity, emotions, conscious self-control, and compulsive buying. These perspectives may sometimes lead to contradictory
or paradoxical findings. For instance, impulse buying is often associated with joy and pleasure but has also been found related
to negative emotions and low self-esteem. Our argument is that impulsive buying can be understood in terms of psychological
functioning, in particular as a form of self-regulation. Regulatory focus theory is then used to bring the various perspectives
together by classifying each as a promotion focus strategy (e.g., seeking pleasure) or a prevention focus strategy (e.g.,
avoiding feelings of low self-esteem). Finally, the question is discussed whether consumers can and should be protected against
impulsivity. Our assertion is that regulation against misleading practices that play on the vulnerabilities of impulsive buyers
could be sharpened and that information provision to consumers and retailers aimed at strengthening consumers’ self-regulatory
capacities may mitigate adverse consequences of impulse buying. |
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