Impulse Buying Power

I'll Take That, Too - Boosting Your Bottom Line

By: Price Kutter | May 2, 2018

 

IT’S HAPPENED TO US ALL. We’ve each entered into a store with a list or certain items in mind and have found ourselves walking out with something we never intended to purchase. A study conducted by Marketing Support, Inc. found that every week, around one third of consumers make an impulse buy. 

The news gets even better for brick-and-mortar retailers as consumers are typically more inclined to make an impulse buy in a physical store than they are online. Impulse buys are surefire profit makers for any retailer, especially those alternative related products. From lighters, ashtrays, and cleaning products, proper attention given to your sales counter can help increase profitability.

Presentation is Key

Group items according to size or color, a move that is subtle but sure to catch the attention of a customer waiting in line to checkout. Position a display prominently near the cash register where the customer is sure to look when making a purchase, and another display near the front of the store where customers pass on their way into and out of your store. 

Change It Up

Impulse purchase items should feel new and fresh to the consumer. If your store has frequent customers, they will be less likely to make an impulse buy if the items on display are familiar to them. Change your counter displays and products at least once a month. Also keep in mind that most impulse buys are typically low in price, smaller in size and lightweight. 

Become a Hype Machine

An often overlooked part of impulse sales is the power of interaction. Encourage your store’s associates to initiate conversation with customers and bring attention to those impulse items that you carry. A good technique is cross-selling; suggesting related or complementary products to your customers at checkout.

Proper merchandising, rotating your counter display often and simply suggesting complementary items at checkout can spark additional sales and improve your store’s profitability.

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