In simplest of terms, purchase intention is the likelihood of a customer buying the same product again based on their purchase history. Or it can also be the NEED of a product which is driving the customer towards a purchase. Basically, the customer is now intent on buying a product and therefore is a prime potential. Retaining such customers is very important as they are likely to shift immediately to another brand because they are in the “Evaluation of alternatives” stage. Obviously, the customer will have their own ideas or their own previous experience on what they want to purchase. For a seller or a business, purchase intention is something that will affect their sales very much. It is very much like a foodie choosing a favourite restaurant over the others because he likes the food there better.
The Business Dictionary gives us the definition of purchase intention in minimal words as “a plan to purchase a particular good or service in the future”. But before a brand can steadily build on the purchase intention of their product, they need to establish themselves as a reliable and trustworthy merchant in the market. Competition in the modern world is stronger than ever so the effort each new firm will have to put in into creating a space for them in the market will double with time.
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