Impulse buys are items that shoppers purchase that they had not planned on buying beforehand. Items near registers are not put there on accident. They are strategically placed to capitalize on impulse purchases. Usually these items are smaller, easily identifiable and priced lower than other items in your store. Though the register is a key place for merchandise, you can utilize other areas by creating special displays in high traffic locations or next to related merchandise. For increasing impulse buys, here are a few tips that we recommend trying.
Change out merchandise frequently. We have given this advice before about displays in general, but it is especially important for special displays designed for impulse buying. Regular customers look for updated merchandise, new products and featured sales. Make sure that you are regularly featuring new items so they keep coming back. Try to keep track of what you have displayed, where you setup the display and the success rate. This will help you know what works and what does not.
Highlight return policies near impulse purchase displays. Customers will be more likely to purchase higher priced merchandise on the spot when they are assured that it will be easy for them to return or exchange if they regret the decision later. Also, make sure that you clearly communicate if sales are final either with signs or at the register.
Put accessories next to related items. Accessories are great impulse merchandise sales. For example, when someone is looking for a great coat and sees scarves, gloves and hats to match, it will be too good to pass up. This also works with items that have accessories that are sold separately such as games, toys and tools.
Remember, you won’t know what works until you try it. Now is the time to experiment a bit with holidays such as Valentine’s Day and St. Patrick’s Day so you will be extra prepared for maximum sales during the next Christmas season.
What are your best impulse purchase displays?
