Key factors which influence impulse buying in Generation ‘Y’ consumers for FMCG products in India (Urban)
In the FMCG industry, consumer choice is becoming an increasingly important aspect in purchasing decisions. Customers in the enormous FMCG sector are developing their own preferences for final decision-making, influenced by a variety of circumstances. The FMCG sector in India is the fourth largest in the country, with a market worth $13.1 billion. Because the country's per capita consumption of practically all items is among the lowest in the world, FMCG companies are predicted to have a tremendous growth potential. In the dynamic market of low involvement product, the widespread goal is to increase market share, gain customers and sustain in the market which can be achieved by strengthening the company position in the market. Knowing the fact that in India the population of millennials is 34% who has been seen majorly doing the impulse purchase. So, this study examines the major factors which influence the impulse buying of the FMCG product which the help of the primary data collected by the structured questionnaire. The Friedman Chi-square test is used to find the importance attached by consumers to the five Factors viz. promotion, lifestyle, trust, value, and product performing the Chi-square Test from SPSS tool to elicit the opinion of 220 purposively selected respondents.