What term refers to a purchase that is made for the first time?

The term that refers to a purchase made for the first time is "new purchase." In the context of procurement and purchasing, a new purchase signifies an initial acquisition of a good or service that the buyer has not previously acquired. This type of purchase often involves a higher level of uncertainty and requires more extensive research and evaluation compared to other types of purchasing decisions because the buyer is unfamiliar with the product or supplier.

New purchases typically necessitate a comprehensive decision-making process, which may include the identification of needs, exploring various options, assessing potential suppliers, and evaluating cost versus benefits. This process ensures that the buyer makes an informed decision while mitigating any risks associated with entering a new market or trying a new product for the first time.