If you’re looking to increase sales, it might be time to look at your impulse spending strategy. From visibility to psychological triggers, let’s take a closer look.
1. Increase Visibility
The saying “out of sight, out of mind” applies perfectly here. When you don’t make special sales and great deals visible, your customers are likely to walk right by them without making a purchase. On the flip side, when you use eye-catching signs to promote sales, announce special sales over the intercom, and hand out coupons at the door, your customers see the great deals you’re offering, which makes it much harder for them to walk away empty handed.
2. Plan Space Strategically
Another important element of increasing visibility is found in the strategic positioning of merchandise.
For retail stores, the most effective placement for impulse purchases is with POP displays near the checkout areas and near best sellers.
. End caps that display featured items and special bins in the middle of aisles loaded with low-priced goods are also great ways to attract attention and encourage impulse purchases.
3. Hit Psychological Triggers
There are a lot of emotions associated with advertising. You can make products more appealing by playing off these emotional triggers. For example, when you post a special that says, “Today Only” on the tag, it fabricates a sense of urgency that entices people to take advantage of the great deal before it’s over. Using these kinds of triggers can lure even the most tight-pursed of consumers to buy.
4. Use Technology
According to a Mobile Commerce Daily study, impulsive shopping behavior can increase dramatically with the help of technology. The study showed that 22 percent of survey respondents cited social media as an integral factor in prompting them to make an unplanned purchase. Things like leveraging social media, email marketing, and internet ads to promote sales can help customers feel the need to visit your site or physical location and make a purchase before the sale ends.
5. Send Mobile Signals
The same study showed that 21 percent of consumers are more likely to make unplanned purchases thanks to shopping apps and 20 percent do the same because of retailer texts.
Using the power of mobile app coupons and SMS messaging can influence compulsive buys both online and in person.
6. Focus on Products
Impulse spending only works if you use the right products to attract attention. These products should be simple and affordable. They’re usually products that people use every day and cost just a few dollars each. Things such as gum, socks, pocket tools, and other non-complex products make for great impulse displays.
7. Use Calls to Action
Both online and physical stores can benefit from direct calls to action. Customers are far more likely to make a last-minute purchase if there’s a sign that tells them to do so. These calls to action can be direct, like a button online that says, “Buy Now” or they can be more subtle, like a sign that says, “Buy One Get One Free.” Amazon uses a more indirect call to action on its site with the “1-click ordering button.” It’s so simple to make purchases on this site that customers do so without much thought.
Consider the things you’re doing in your store to promote impulse buys. If you’re reading this, it probably means your efforts are not enough. Now is the time to implement some of these best practices to promote sales in your store and encourage more loyal customers.