Retailer's Guide to Maximizing Impulse Purchase Potential: Around the Store

In our last post, we discussed some smart strategies retailers can use to maximize their customers' impulse purchases at the register or checkout line. Of course, according to a 2014 Mass Merchant Study, 16% of unplanned purchases were due to a display noticed while shopping. This means that impulse buys can occur at any point after the moment the customer steps foot into your store in addition to just at the register. Here's how to increase the likelihood of impulse purchases around your store.

Use Color to Your Advantage
On average, consumers are exposed to 3,000 ads and promotional messages every day, and the key to making these signs visible, along with placement, is color. Don't use free standing signs and custom vinyl door decals that are considered obnoxious colors, but experts say red and yellow hues can trigger customers to bite the bullet and make a purchase when they otherwise wouldn't have. Of course, these are far from the only colors -- look for shades that are visible and eye-catching, but not too bright or distracting. You still want the customers' overall experience to feel natural, and not as though they're just another pair of eyes for your advertising needs.

Put Impulse Items Near Popular Merchandise
This is a logical strategy that many retailers simply don't think of. But the fact is, if you place the items that you want customers to purchase impulsively adjacent to the most popular items in your store, they'll naturally receive more attention. They'll get viewed by more people, and therefore, they're more likely to be purchased. 

Stay Aware of Customer Psychology
There are three main factors when it comes to triggering an impulse buy: urgency, value, and excitement. This means that your highest chance of increasing impulse buys comes from merchandise that has a great value, is only available at that price for a limited time, and evokes excitement from the customer.

Now that you're aware of the many ways to maximize a customer's chance of making an impulse purchase, you can develop your own creative retail display ideas and use them to your business's advantage. For more information about custom vinyl door decals and display stands, contact The Global Display Solution.