Encouraging Impulse Buying Can Boost Your Business

If you were to talk to just about anyone, they’d tell you that they are ‘intelligent shoppers’. What do we mean by this? Simply put, the vast majority of people believe themselves to be unswayed by the subtle tricks of the trade revolving around the retail world. Most people won’t acknowledge or understand it, but businesses put a ton of effort into putting their customers into situations where they can get into the habit of impulsive buying. Impulse purchases are the secret engines that keep businesses pushing forward, so today we are going to talk about them. Let’s outline a few ways that you can help your business to increase impulse buying measures.

Impulse Buying: Keys to Retail Success

Do you remember the last item that you purchased? Maybe it was a piece of candy in the checkout aisle at the grocery store. Maybe your last purchase was an add-on item that caught your eye while shopping online. In any event, the odds are good that you were influenced by impulse purchase tactics that were designed to influence you to make another purchase. Don’t feel attacked or taken advantage of because this is just a part of the shopping experience. In fact, impulse buys are such an important part of sales that you owe it to yourself to make sure your business is doing what they can to follow suit. How can you get more of your customers interested in making those add-on purchases?

Group Related Products

We aren’t just talking about putting socks next to the shoe aisle, we’re talking about really embracing the ‘related item’ aspect. Let’s say that, for example, you sell premier fondue pots. While it would be only natural to include cheese or chocolate products in the same vicinity of your website, it isn’t the only way to approach ‘related’ products. Think outside of the box? What kind of products would someone be interested in if they are also interested in fondue pots? Maybe nice placemats or high-quality wine. After all, if someone is willing to pursue luxury fondue, why wouldn’t they want a luxury beverage?

Embrace Sales Promotions

Be honest with yourself: you have enjoyed a sale or two in your shopping life, right? Everyone loves sales but that doesn’t mean that your company has to give away the farm in order to encourage impulse buys. Adding last minute discounts for additional purchases can be a great way to encourage add-on items. Offer free shipping when customers exceed X amount of dollars purchased. These kinds of little promotions can make a huge difference.

Make Add-On Products Affordable

Finally, take some time in order to focus on the products that you want to encourage in the ‘add on’ or ‘impulse’ category. Typically, you can focus on low-floor, high-profit products that have a great margin of profit. Impulse buys are part and parcel of the shopping experience. Don’t let your business fall behind the rest of the pack. Focus on enhancing your impulse buying prowess and your company will prosper as a result.

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