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Encourage Impulse Buying and Sell More Products

By: Brittany Engelmann-- 2016-04-22 9:00 am --

Everybody partakes in an impulse purchase from time to time. In fact, a survey conducted by CreditCards.com found that about 75 percent of consumers report having made a recent impulse purchase, and about 16 percent of respondents claimed to have spent over $500 on their impulse purchase. Business owners can leverage this trend by designing their store in a way that subtly influences the emotions and desires of shoppers.

Keep Your Checkout Counter Stocked

No matter your industry, every business can benefit from keeping their checkout counter stocked. According to economist Hawkins Stern, people often make purchases not because they want a particular item but solely due to the way the item is presented to them. He coined a theory known as Suggestion Impulse Buying, which has largely influenced the design of retail checkout counters.

Candy is an item that rarely makes its way onto a grocery list, and the vast majority of candy sold is the result of impulse shopping and weakened will power. By stocking candy exclusively in designated aisles, sales will revolve primarily around those with the preconceived intent to purchase candy. However, by placing candy in numerous strategic locations throughout your store, you can continually entice shoppers and increase impulse purchases.  

Inundate Your Customers

Decision fatigue also plays a vital role in influencing impulse purchases. Decision fatigue occurs when people are so inundated with a desirable product that they can no longer resist the temptation to purchase it. By positioning tempting products, like candy and soda, in multiple locations throughout the store, your customers will be encountered with the difficult urge to resist the products numerous times. By the time they get to the checkout aisle, many have become so fatigued by the battle, they are significantly more likely to relent and purchase the item presented to them.

Think Small, Sell Big

Even though a small percentage of impulse shoppers reported splurging on larger purchases, research indicates that the majority of impulse purchases are for small, low-cost items. Stock up on things like gift cards, gum, candy, soda, and small toys. The less the item costs, the easier it is for the consumer to rationalize purchasing it.

Understand Your Customer

The impulse products you choose to display should largely depend on your customer base. While candy and soda appeals to shoppers across industries, you should also pick niche-specific products to sell. For a home improvement store, that may be nails and screws. For a beauty supply store, it may be lip gloss and breath mints. Choose small, low-cost, and highly popular items that are specific to your niche, and always have them clearly displayed at your checkout counter.

Impulse shopping composes a considerable chunk of annual purchases, with the majority of consumers partaking in impulse buys regularly. With the right store layout and a basic understanding of the psychology of shoppers, you can influence your customers to purchase items they didn’t set out to buy. A combination of decision fatigue and Suggestion Impulse Buying is all it takes to fuel impulse purchases and increase store profits. Stock up on a variety of everyday products like batteries, candy, and lip balm by clicking here.