Impulse purchases : How to increase them in your store May 27, 2015 0 comments Impulse purchases account for a significant chunk of consumer spending. We’ve all hurried into our local grocery store for some bread and milk but left £20 lighter with a bag full of unplanned items. One of the most important ways to encourage an impulse purchase is to make the purchase as easy as possible for the potential customer both physically and mentally. What’s it going to be? The first thing to decide on is the impulse product itself. The product should not require explanation or demonstration – in other words it should do what it says on the tin. Time kills the impulse, the more time they have to think about the product and its potential use the more likely they are to talk themselves out of it. The product should also attract attention, the packaging must be appealing or it must look appetising. Price wars! Secondly, the price or offer must be appealing; shoppers are more likely to buy if they’re only being asked to part with a few pounds. This eliminates the guilt of potentially over spending on products that aren’t necessities. Ideally impulse products should be relatively small and inexpensive. Before you decide on putting the product at a special price or on an exclusive offer make sure you check your margin! Location, Location, Location Once you’ve picked a selection of products it’s time to be strategic with location and presentation, this is often dependent on what you sell and the size of your store. We would recommend placing your products at the end of an aisle or at your checkout. At the checkout customers have already agreed to part with their cash and are in a purchasing frame of mind. Whilst placing products at the end of an aisle allows you to differentiate one product from another suggesting this particular product or offer is more important than all the others. This type of placement also allows you to target customers that are making a dash for specific products and not necessarily looking for a full shopping experience. Presentation is key In terms of presentation we would suggest some sort of display fixture; Dump Bins or FSDUs tend to work best as they’re eye catching, portable and reusable, whilst allowing you to display lots of products in a small space. We would recommend branding these and making them as attractive as possible, for this you have one of two options: If you have a sufficient budget we would recommend purchasing several different Dump Bins or FSDUs as and when required, by doing this you can include not only your logo, brand colours and tag line but text to highlight a specific offer or USP. If you’re working on a restricted budget , it’s best to keep things simple by including your logo, brand colours and tag line, this way you can reuse the display item however you please for an array of different offers or products. If you don’t have the resources to buy any POS materials, try placing your impulse products next to some of your best-sellers so they’ll get noticed! Remember who you are… Remember, impulse products should be displayed in a way that’s eye-catching and attention grabbing however such POS still needs to fit in with your overall proposition and brand values. If you are a discount store you will get away with having lots of ‘Bargain Bins’ and other POS items that highlight your offerings. However, if you’re a quirky/unique gift store for example, you may want to just highlight a few special offers.