Euromonitor Consumer Types: Understanding the Impulsive Spender
Grouping consumers solely by demographics while looking at their buying behaviour and purchase decision making can give a skewed view of their daily habits and long-term lifestyle choices. Instead, Euromonitor’s eight global consumer types look beyond standard demographics and profile distinct personality-driven consumer types. Changes in attitudes and habits can be tracked through our Consumer Types Series year-on-year, giving valuable insight on what consumers want and need, even distinguishing among those in the same demographic group.
The Impulsive Spender places importance on their appearance and frequently makes impulse purchases to keep up-to-date on the latest trends. Though they do not enjoy shopping or spending money, Impulsive Spenders do actively seek bargains which further enable their impulsive spending behaviour. Companies and brands that clearly outline sales and discounts on well-known, premium and luxury products are likely to resonate with the Impulsive Spender as these types of deals would be considered great value for money.
Understanding the shopping habits and preferences of global consumer types allows companies, brands and retailers to target their core customers better. From initial shopping motivations to influences, channels used and the final purchase, these steps in the path to purchase provide valuable information on how to successfully target key audiences.
For additional insights on each of our eight consumer types and how to influence their purchase decisions, download Euromonitor International’s “2018 Survey Results: Using the Consumer Types to Understand the Path to Purchase” white paper.