For increasing impulse purchases, the number one strategy a retailer must adopt is to improve product visibility. Items placed near complementary bestselling products have the highest chance of being selected by shoppers. For example, Easter egg coloring kits positioned near the eggs and also at the check-out will provide two important opportunities to cross sell. To prominently display popular items, retailers can utilize cross merchandisers such as shelf extenders, merchandising strips and mobile, freestanding units.
In addition to location, incorporating eye-catching and compelling signage can be another useful strategy. Retailers can use promotional pricing, descriptive wording and bold colors, such as reds and yellows to draw attention. Utilizing a variety of signs together, such as shelf signage, free-standing floor stands and ceiling displays can be extremely impactful at capturing customer attention, as well.
Choosing the right product at the right time is also a key strategy for increasing impulse purchases. The best impulse products are small, affordable and self-explanatory. To attract the most attention and to take advantage of existing demand, select products that are extremely popular or relevant, especially during certain times of the year. For instance, using bulk bins to display lip balm in the winter and trial size sunscreen in the summer is an obvious and effective way to increase impulse purchases at checkout. If shoppers perceive a need or can envision a future need, they are likely to buy one or more “just in case”.
Finally, creating an air of urgency or excitement over a product can prompt immediate action by the shopper. A good deal, such as “buy one, get one free”; a limited time offer, like “while supplies last”; or simply a new product release, “now available”, can have an emotional impact on shoppers.
According to Paco Underhill, author of the book Why We Buy: The Science of Shopping, “Two-thirds of the entire economy is impulse buying.”
FFR Merchandising has the signage and product merchandisers you need to increase impulse sales in any department, at any time of the year. For additional information, call FFR Merchandising between 8 am and 6 pm Eastern Time at (800) 422-2547 or browse our wide variety of products by clicking here.