What Opportunities do Planned Impulse Occasions Offer Food and Drinks Brands?
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Opportunities for Food and Drinks Brands on Planned Impulse Occasions Overview
Purchase decisions can generally be categorized into planned purchases or impulse purchases. However, there is a third category that is present at the intersection of these two purchase behaviors. “Planned impulse” purchases reflect elements of need-based purchasing as well as unplanned decisions in-store. It refers to an unintended change to a planned purchase triggered by a discount or promotion.
The “What Opportunities Do Planned Impulse Occasions Offer Food and Drinks Brands?” report explores how impulse shopping is evolving in a digital shopping landscape. This report explores opportunities in planned impulse purchasing and the implications for both food and drink brands and retailers.
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Planned Impulse Purchase Drivers
The two main factors driving the planned impulse occasions are value-for-money and scarcity. Several strategies can be employed to effectively tap into each of these drivers.
Value-for-Money: The desire to obtain a good deal is ever-present in consumers and can prompt an unplanned purchase if the shoppers perceive that it offers a better value in the long run.
Scarcity: A fear of missing out puts shoppers under pressure and can help justify impulsive decision-making if shoppers feel that they will need the item eventually.
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Planned Impulse Occasions - On-Trend Innovations
Anticipating consumer needs and streamlining operations leads to impulse purchasing. Autonomous shopping solutions enable retailers to operate stores more like e-commerce, whereby they can manage a store in a way that is more optimal for the consumer, providing them with assortment selection to personalized promotions. They can also track how long customers dwell in front of certain displays and shelves, and plot sales to shopper height. Frictionless shopping solutions have been depicted as a hindrance to impulse shopping as they reduce dwell time, but strategically placed products and promotions that are driven by shopper data can effectively encourage impulsive purchase decisions.
For example, Poland’s largest convenience store chain Żabka Group launched a checkout-free concept called Żabka Nano with no carts, clerks, cash, or closing time. The stores rely on computer vision technology that recognizes shopper behavior and helps managers understand everything from foot traffic patterns to sales relative to shelf placement.
Shoppers who do not have time to conduct pre-purchase research are attracted by price-marked packs that offer the reassurance of value. Hence, price-marked packs can be an effective tool to manage shoppers’ price perceptions. They are particularly effective in key convenience categories as they communicate a value deal to shoppers and can stimulate impulse purchases.
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Scope
- Traditional impulse shopping has been impacted by disruption to the C-store industry.
- The rise in online shopping facilitates more considered, less impulsive purchases.
- Quick commerce has transformed the potential of online impulse shopping.
Reasons to Buy
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
Target
Aldi
Zabka
Bold Commerce
Instacart
Coles
FamilyMart
Shopii
Uber
Table of Contents
Frequently asked questions
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What does planned impulse purchase mean?
Planned impulse purchase refers to an unintended change to a planned purchase triggered by a discount or promotion.
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What are the main drivers of planned impulse occasions?
The two main factors driving the planned impulse occasions are value-for-money and scarcity. Several strategies can be employed to effectively tap into each of these drivers.
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What are the on-trend innovations targeted toward planned impulse purchases?
Anticipating consumer needs and streamlining operations leads to impulse purchasing. Additionally, shoppers who do not have time to conduct pre-purchase research are attracted by price-marked packs that offer the reassurance of value.
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