Impulse buying (IB) is one of the most fragmented concepts in the marketing and consumer literature. This has resulted in some contradictory findings and a lack of an overarching theoretical framework for understanding the IB process and its outcomes. Based on a systematic review of the literature published over the past 60 years, the authors synthesize various research perspectives into a comprehensive multidisciplinary framework of IB – linking antecedents, triggers, the buying act and post‐purchase outcomes. The paper makes four specific contributions relevant to both academic researchers and practitioners. First, it provides a comprehensive understanding of IB as a process and outcome, by systematically reviewing the existing literature. Second, it specifically recognizes and discusses the triggers of IB, by drawing on literature related to the buying process, intentions and motivations. Third, this is the first meta‐analysis review in the area. Finally, it considers the potential consequences of IB that lead to subsequent IB, and provides a framework for future investigation. This paper also addresses a problem of relevance to both academics and practitioners, proposing further research and managerial implications.