IMPULSE BUYING: HOW DIGITAL MARKETING IS INFLUENCING THE MILLENNIAL GENERATION’S IMPULSIVE SPENDING

Abstract

Impulse buying, in its most simplest form, is the process of making a purchase one had not intended to make (Cruze, 2020). Impulse buys can be small, they can also include larger items such as cars and computers. Millennials, currently aged between 26 and 41 and a population of 72.1 million, make up the largest segment of the American workforce (Pastore, 2020). Not only does this population make up a majority of the American workforce, they are also the highest spending generation and the generation that the media is most easily able to influence (Mullen, 2020). Among millennials, 82 percent buy a product they like the first time they see it, 70 percent admitted to often regretting purchases they made, and 64 percent reported they often make impulse buys (Mullen, 2020). The purpose of this research is to analyze what forms of digital marketing are able to influence the millennial population the most. This research will also attempt to examine what demographics influence consumers to purchase an expensive or luxury product that they had not intended to buy. The demographics that will be included are age, race, gender, general income, and household type. Information will be contributed to this research through surveys submitted anonymously from participants aged 25 to 40 years old. By analyzing the results from the surveys, there will be more insight on what forms of digital marketing are most successful in achieving an impulse purchase by millennials.