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Band 6.5

Many people buy products that they don't really need and replace old products with new ones unnecessarily. Why do people buy things they don't need? Do you think this is a good thing?

#people #products #ones
Impulsive buying is a tendency of a consumer where he purchases any goods or commodities on the basis of temperamental emotions. Online shopping aggregators use
this
 buyer's condition to generate high sales by offering huge discounts in their offering. Attracted to the deflated price, one might get insecure that in future the price may inflate;
hence
, they purchase the merchandise immediately. As their decision is based on an impulse, their new order is replaced with the existing one.
Hence
,
this
 causes the old stock to go to waste which is detrimental to our environment. Tech giants like Amazon and Walmart, target people who are money conscious by offering concessions on their high-value items.
Furthermore
, using a data-driven model, they can predict purchase decisions as on their past acquisition, external climate and market situation.
Last
 year, the demand for tissue papers, soap and healthcare products skyrocketed due to panic created by the Covid-19 pandemic.
As a result
, these companies created an artificial shortage of all mentioned categories in
such
 a way that their cost increased two to three times. Impulsive purchasing is based on human emotions,
although
 one might not need that commodity, he will still acquire it because, for them, a good deal is when something is purchased in bulk. Even in supermarkets, the product placement is done in
such
 a way that the high-value products are always kept inaccessible areas meanwhile, the actual required product is placed in the dark. In conclusion, it can be said that technology companies and supermarkets play with human sentiments in
such
 a way that customers buy more and
as a result
 generate more revenues for the stakeholders.
Although
such
 a type of buying is good for the economy as it increases the cash flow, disposal of the old products causes more wastage and causes strains the environment.
Submitted by swapnildeshbhratar on

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