How to Capitalize on the Nature of Impulse Buying
Impulse buying: a word we hear frequently, and act on even more than we may think we do. It’s defined as the moment when a consumer deviates from their original shopping plan and buys something not on their list. It’s a major component of the retail world. It commonly occurs during almost every consumer’s shopping trip, meaning it is a sizeable part of the consumer spending trend in general.
In fact, the majority of all purchase decisions—whether an impulse product buy or choosing which brand to go with—are made in store. That’s why retail displays, such as merchandisers or point-of-purchase displays, are so influential.
So, how can you influence or increase impulse buying of your product?This is where the right POP display comes into play. It’s essential to have a retail display that showcases your product and tells your brand story. Position the display strategically where a customer is bound to make a last-minute decision of buying a product. This frequently happens near where a customer may be waiting in line, at the cash register or an end-cap.
Stay true to your brand. A retail display designed for impulse buying may look different than displays you have used in the past, but it is important to ensure the design stays in line with your brand. Brand recognition is vitally important for consumer decision-making.
Why do people buy on impulse?Consumers generally impulse buy small items that can easily be added to their cart, and are generally not very pricey or luxurious. People act on impulse buys for a slew of psychological reasons: there is a sense of urgency that this is their only chance to buy this product or get this deal, they see a great value in the product, or there is an excitement in the instant gratification of an impulse buy.
What type of POP display is right for impulse buying?Merchandisers are great for displaying your product as they work well with your particular brand line. Adding elements that grab the attention of the consumer like light, dimension or sounds are important considerations.
If you can show your product in action, that will help make up the consumers mind immediately that they need it. If possible, group products that work well together to encourage the impulse buy of more than one item. This is seen frequently in retail stores for one reason: it works.
The experts at Hawver Display are prepared to create the right POP display for your brand. Get in touch with us today.