The Impact of Impulsive Purchasing Behavior on Consumer Actual Consumption during an Economic Crisis: Evidence from Essential Goods in Retail Industry Sri Lanka

Abstract

This research focuses on the impulsive purchasing behavior of consumers during an economic crisis in Sri Lanka and its impact on the demand for essential goods in the retail industry. The study aims to investigate the factors influencing impulsive purchasing behavior, including purchasing intention, store environment, and the availability of money. The research also aims to understand the implications of impulsive buying on consumer demand and its significance for the retail industry. The study utilizes a literature review to explore the concepts of impulsive purchasing behavior, factors influencing it, and the impact of economic crises on consumer behavior. It identifies gaps in the existing literature, particularly the lack of research on impulsive purchasing behavior during the current economic crisis in Sri Lanka. To address these research gaps, a quantitative research methodology has been employed. Data was collected through surveys administered to consumers in retail settings. The research analyzed the collected data using statistical techniques to determine the relationship between impulsive purchasing behavior and consumer demand for essential goods. The findings of this research contribute to the understanding of impulsive purchasing behavior during economic crises and its impact on consumer demand in the retail industry. The results could be utilized by retailers and policymakers to devise strategies for managing consumer behavior, maintaining sustainable inventory management systems, and ensuring the availability of essential goods during economic crises. The research also has implications for social media platforms and their role in controlling impulsive purchases. Overall, this study aimed ed to provide valuable insights for businesses and policymakers to navigate the challenges posed by economic crises and sustain their operations in the retail industry. Keywords: Consumer Demand, Economic Crisis, Impulsive Purchasing Behavior, Inflation, Purchasing Intention.