Impulse purchase intention towards price preferences among customers of selected shops in Davao City

Abstract

Impulse buying is crucial as it can drive sales for many industries and helps consumers satisfy their desires. Price preference is one of the significant factors affecting impulse purchase intentions. Despite the popularity of impulse purchase topics, more studies in the Philippines are still needed. This study aims to determine the relationship between impulse purchase intention towards the price preferences of customers. Customers in selected shops in Davao City participated in the research. The questionnaire used in this study was adapted and modified. The researchers used a purposive sampling method in choosing population members to participate in the study. A descriptive-correlational approach was utilized in distributing questionnaires, collecting, and gathering the data for this study. The statistical tools employed in treating the problem were mean and spearman's rank-order correlation. The findings reveal that there is a significant relationship between the impulse purchase intention and price preferences of the customers. Due to that, understanding the relationship between impulse purchase intention and the customers' price preferences helps retail stores enhance their sales by offering a suitable price range, creating value for their customers, and driving impulse purchases. On the other hand, there are still other factors aside from those above-mentioned that business owners should consider when formulating the marketing strategy for their businesses.