Difference between Buying and Purchasing

Key difference: Essentially, both the terms mean to acquire something against money. However, buying is considered a general term, which is most commonly used to refer to everyday goods and commodities. However, purchase is considered to be more of a formal term than buy.

Buying

Buying and Purchasing are two terms that are often used interchangeably. The words essentially have the same meaning, but they do differ in context. However, in modern usage of the terms, they are considered as synonyms.

Dictionary.com defines buy as:

To acquire the possession of, or the right to, by paying or promising to pay an equivalent, especially in money; purchase.
To acquire by exchange or concession: to buy favor with flattery.
To hire or obtain the services of: The Yankees bought a new center fielder.
To bribe: Most public officials cannot be bought.
To be the monetary or purchasing equivalent of: Ten dollars buys less than it used to.

Whereas, purchase is defines as:

To acquire by the payment of money or its equivalent; buy.
To acquire by effort, sacrifice, flattery, etc.
To influence by a bribe.
To be sufficient to buy: Twenty dollars purchases a subscription.
To acquire (land or other property) by means other than inheritance.
To buy something.

Essentially, both the terms mean to acquire something against money. However, there is some difference between the terms, specifically regarding the context of the terms. Buying is considered a general term, which is most commonly used to refer to everyday goods and commodities. However, purchase is considered to be more of a formal term than buy. Purchasing is often used to refer to contracts and big products, whereas buying is inferred for small products. For example: ‘I purchased a piece of land’ or ‘The government purchased a huge defense contract.’ However, ‘I bought a new phone.’ Still, it must be noted that in daily usage, the terms are synonymous. For example: I bought a new book. I purchased a new book.

Comparison between Buying and Purchasing:

	Buying	Purchasing
Definition	Buying is to obtain something in exchange for money or goods.	Purchasing is to obtain something in exchange for money or goods.
Type	Verb	Verb
Inference	Informal	Formal
Example:	Jack usually buys his groceries on Saturdays. The Smiths are buying a new house. We need to buy a new car. The store was having a sale, we bought many items. I need to buy the books for this semester.	Mary purchased a year's supplies of pens. John just purchased a diamond ring to propose to Julia. The Smiths are purchasing a new house. The government announced the purchase of a new computer system. Our first day was spent in the local shops purchasing all the things that we believed we had brought with us.