There are only so many impulse purchase products you can cram into the checkout line in order to get a few last-minute items into someone’s shopping cart. However, there are more ways to take advantage of impulse buyers.
In the world of retail, there are plenty of steps you can take to promote your “go-to” products. Ultimately, you want to have some major products that you can rely on regularly. While you need your pillar products to do most of the heavy lifting, impulse buys can sweeten the deal. Many retailers make a big chunk of their revenue by enticing people to make impulse purchases. How exactly can you take advantage of impulse buyers and boost your total sales?
Offer a Great Deal
No one is going to make an impulse buy on a product that is way overpriced. If you want to get people to jump on something that they didn’t really plan on buying, it better be a good deal. Do your research to figure out what would constitute a good deal in today’s market. Price your products accordingly and make it seem like it is a limited time offer. Even if you plan on always selling something as a target for impulse buyers, try to create a sense of urgency. People go a little crazy when they know a good deal won’t last long.
Make Products Accessible
If you want to boost your impulse sales, it’s important to make sure that your products are easy to get to. You could have them up at the front of the store on a large display that gets customers’ attention. Some stores put the products right up by the cash register so that people will see them when they are checking out. When products are easy to find, your customers will be a lot more likely to pick them up and buy them on a whim. However, there are ways to do this throughout the store with end-caps that display certain products at the end of each aisle. These are great ways to display good, limited-time deals.
Make it Easy to Pay
One of the big hurdles that keeps customers from making a purchase is when a retailer doesn’t offer a convenient way to pay. A customer might think about making a purchase, but then they look over at the one checkout line that is open, and see that it’s completely full. The customer doesn’t want to wait in line for 20 minutes to buy something that they really don’t need, so they talk themselves out of it. If you want to get past this problem in your store, consider utilizing mobile payment processing technology to your advantage. For example, you can make it possible to accept credit cards on the iPhone by getting the SwitchPay card reader and downloading an application.
In some cases, your employees can simply make it so that their existing phones can take credit card payments for you. In other cases, you can buy phones or mobile devices for your employees to use while at work. When your customers realize they can make a payment by simply talking to any employee in the area, they’ll be much more likely to want to buy. Overall, increasing impulse purchases should be a primary focus for you, especially around the holidays. People like to be able to buy, and it’s up to you to give them a legitimate reason to do so.