Have you ever ended up in the checkout line at the grocery store and counted the number of items in your cart that were not on your shopping list? This happens to me all the time. Try as I may to stick to a budget or a list, I am tempted at every turn to say “aw, what the heck” and throw an extra something in my basket. When I take the time to count how those little extras add up, it usually totals as much as $10 to $20 of unplanned purchases. The thousands of shoppers that also regularly make unplanned purchases amount to BIG profits with what seems like no effort on behalf of the retailer.
There is specific science and data collection that goes into achieving effortless add-on purchases. Fortunately you don’t need an MBA to glean similar results when it comes to your retail business. You just need be cognizant that impulses are part of our everyday life. Whether it’s stopping for a fast food dinner because of a billboard special or buying more than we really need when we see a 2-for-1 special at the grocery store, we are all susceptible to the impulse purchase. Our impulses motivate us when it comes to a perceived savings, or having a great day, or even a bad day.
Flipping the Switch Part 2 discusses how to optimize the path to impulse purchases by rethinking your cash wrap with inventive promotions anywhere in your store. Part 2 of Flipping the Switch is meant to give you tools and creative methods for turning even big-ticket items like skis and snowboards into impulse buys. All you need is some time to plan an effective approach using great signage, cross merchandising and the ability to create a buzz around a product.
Read on and get ready for success!
SIA is working with visual merchandising consultant Ali Levy to provide retailers with some fresh merchandising ideas for increasing sales and interest from consumers. Levy’s impressive resume includes managing retail, buying and trade show/retail merchandising efforts for some of the industry’s biggest names including The North Face, SmartWool, Cloudveil and Marmot. For more information about her company, contact Ali at Alijlevy@gmail.com or visit her website, Alijlevy.com