When a customer buys a product from your store without the prior intention of buying that product, it is known as an impulse purchase.
It’s true: sometimes we walk by a store and grab a deal because it was too good to miss. This situation takes place more often in the case of apparel, bulk beauty products, food and other items. And if you have some of these products to sell or not, this can still happen in your store.
Think of impulse purchases to be the power of temptation. The sensation of doing something wrong but being unable to stop yourself. Like that one instance, you saw a cake on display and bought it, despite your health resolutions.
Knowing exactly what your customers can’t resist is your secret to increasing impulse buying – it is just like reading their minds and presenting them with what they want.
So, what causes impulse purchases? And what can you do at your store to encourage them? Let us know further.
What is an Impulse purchase?
Impulse purchases are different from normal purchases in one way: they are not intentionally planned. They are made at the spur of the moment, are difficult to control, and are influenced by emotional states such as anger or excitement. (expand)
Unplanned purchases have become the norm for most customers and you can certainly tap into them for improving your sales.
It has been stated that over 87% of consumers make impulse purchases, and that impulsive buying accounts for more than 50% of all retail sales.
The development of internet advertising, e-commerce, and instalment payments has accelerated the trend. And, the best thing about the psychology of impulse purchases is that many buyers don’t regret their decision to buy.
What factors contribute to Impulse buying?
Emotions
The emotional state of the shopper is an important factor in triggering an impulse purchase.
According to studies, both positive and negative emotions influence consumer purchasing behaviour. Happiness always controls an impulsive purchase, producing effects such as pleasure and joy.
It is also common that shoppers tend to buy on impulse to relieve negative emotions such as stress, fatigue, and upset. Self-gifting, also known as “retail therapy,” is another form of impulse buying used to manage one’s mood.
In fact, 72% of shoppers say impulse purchases improved their mood, with two out of three respondents saying it instantly improved a bad day.
Self-control
Numerous studies have shown that people resist impulses to do things like go back to sleep, eat snack foods, and make impulse purchases. Impulse buying can be seen as a battle between desire and self-control.
Three major components of self-control play their part in influencing an impulse buy –
Standards – For example, a shopper may go to a specific store to get bulk cleaning products with a shopping list. Shoppers who have unclear goals are more likely to lack self-control.
Tracking their spending – Shoppers who monitor their purchases are less likely to make impulse purchases.
Hence, impulse buying is caused by a lack of self-control. When the desire for a product strikes and overwhelms the buyer, self-control fails and the shopper purchases without hesitation.
Previous experience
If a shopper had a similar shopping experience in the past that resulted in positive feelings, they are more likely to think of the impulse purchase in a good way.
When a buyer remembers the positive experience of buying a product from your store, they will most probably buy the same product again even when they don’t need it. Wholesale confectionery and bulk beauty products provide amazing experiences to the buyers which makes them sell more.
How To Encourage Impulse Purchases
There are many ways you can use your customers’ preferences to your advantage. Below are some steps you can take to ensure the same –
Place lower-priced products near the checkout
A customer would think twice of buying something of $1000. So, it’s preferable to keep all things under $20 for checkout and point-of-purchase impulsive purchases. In this way you may increase purchase values with things that customers are eager to buy without thinking.
Keep impulsive goods near high-demand items.
Choose lower-priced goods that complement high-demand anchor products in this location. A grocery shop, for example, would place lighters near menthol filters. You’ll benefit from the attention and foot traffic that high-demand items attract, as well as the urgency of impulse purchases.
Anticipate your customers’ requirements
When we talk about impulse purchases, we don’t mean a specific or defined group of objects. Understanding the ideal goods for your impulse purchase displays is all about getting to know your consumers and anticipating their wants and needs.
Are your consumers marathon shoppers that go from one place to the next for hours? In the checkout line, they could respond to bottled water or lip balm. Is your consumer looking for a particular scent for themselves? Perhaps bulk deodorant is precisely what they need.
Highlight impulsive purchases
You’ll need to take extra measures to bring attention to other impulsive displays across the shop (or if you don’t have the space for point-of-purchase displays).
Aside from presenting your products in the appropriate sections of your store, you may use three major strategies to attract buyers’ attention
Signage – Employ signs on and surrounding impulse displays to draw buyers in, and, as previously discussed, use wording that generates a sense of urgency.
Lighting – Try coloured lighting, spotlighting, or any other illumination that distinguishes the exhibit from the rest of the store.
Colour – Bright, bright colours, such as red for sale or promotional products, can catch clients’ attention and assist generate the sensation you want to go along with your impulse purchases.
Select things that provoke minimal thought
While it may appear evident that high-priced items do not encourage impulsivity, there is more to picking the proper impulsive buys than just price. A high price might cause buyers to hesitate before purchasing, but so can having too many alternatives.
So choose your products with care. Curate a few well chosen goods to populate your display so that buyers do not have to spend too much time deciding between different colour or size variants.
Offer product samples
Not every retail establishment can provide samples or demos of its items, but those that do can go a long way toward influencing customers to buy something they didn’t intend to buy. You may increase impulsive purchases by offering buyers a tiny taste (real or metaphorical) of things.
Think of the products which you can offer as samples – maybe your wholesale beauty products can do. Customers who come in to buy foundation may fall in love with a lip shade recommended to them.
Display seasonal products
When buyers spot seasonal decor, fragrant candles, or hand soap in a checkout line, they don’t rethink the purchase.
Seasonal commodities are ideal for checkout and impulse displays because they evoke a sense of urgency— seasonal products are only accessible for a limited period.
Choosing to exhibit seasonal products also makes it simple to change up your point-of-purchase displays on a frequent basis, which is critical for attracting impulse buying from repeat consumers who have seen your displays previously.
Train your staff to encourage impulse buys
Getting customers to make spontaneous purchases isn’t only about the items and where they’re displayed. One of the most underutilised instruments for encouraging spontaneous purchases is your store personnel.
Teach your employees how to offer complementing product recommendations and how to guide shopper attention to point-of-purchase displays.
Finally, genuine interactions and suggestions are the most successful strategies to entice people to make impulse purchases.
Make use of conditional promotions
Conditional promotions are designed to increase sales without reducing revenues or basket values. They also encourage customers to browse your business and look at other products rather than simply the ones on sale.
Promotions with conditions include:
- Buy one, get one free (BOGO)
- Purchase and earn points
- Buy selective products and get discounts
Offering free items is an excellent motivation. You may take advantage of this by arranging conditional offers across your store. Low-cost items are frequently purchased on the spur of the moment. So, in order to be successful, look for items with greater margins in your offers.
Final Thoughts
It all boils down to taking advantage of impulse purchases. The more customers love their shopping experience at your store, the more likely they are to buy on impulse. A properly-decorated, attractive, and ambient store, as well as intriguing surroundings and background music, may keep customers coming back and spending more with less effort.
To begin, try a couple of the suggestions above. The correct plan may transform your shop, not simply by increasing sales, but also by generating new and engaging experiences that people will remember.
