Millennial Consumers and Tendency for Impulsive Buying: A Conceptual Model

Abstract

The main purpose of deriving deep insights of consumer behavior from marketers’ perspective is effective strategy of STP- segmenting, targeting and positioning. Segmenting can be very effectively done by dividing the consumers in to generational cohorts as it has been seen that the consumer behavior lies deep beyond age. When a particular generation reach a certain age group, more often than not, they behave differently in terms of consumerism, than their previous generation, when they were in the same age group (Parment, 2013). This is due to differences in socioeconomic opportunities, technological availability and activities, norms and perception, life experience and expectations (Hume, 2010). The present research focuses on systematic review of literature with respect to millennial consumers and their tendency towards impulsive buying. A conceptual model has been proposed which needs to be empirically tested to validate.