Impulse merchandising is an extremely convincing strategy for retailers to increase their sales. This tactic has been used over decades by retailers and is mainly about strategically placing products in a store in a certain spot, likely near the checkout area, to entice them to make last-minute buying decisions. In this blog post, S-Cube Fixtures will help you understand the concept of impulse merchandising and how you can maximize its impact. Read on for more!
What is Impulse Merchandising?
As we’ve mentioned, impulse merchandising is all about enticing the customer. There are different ways of doing it, but mainly, it’s the strategy of putting specific items in areas that can trigger the shopper to buy on a whim. When done right, this can increase your average transaction value, clear out inventory rapidly, and overall introduce customers to new products. Once you’ve mastered this art, you can control a lot of the higher sales volume, all while keeping your customers happy.
How to Use Impulse Merchandising to Your Advantage
Most people think impulse merchandising is all in the products or inventory, but a key component in all this are store fixtures and how these products are displayed. If you have new products you want to promote, putting them on a boring shelf in the middle of the store isn’t going to attract buyers. This is where custom store fixtures would be a great solution to create exactly what you need for the kind of products you want to sell. Then, once you place them in an appropriate spot, the products will sell themselves.
Related Article: Why Custom Point-of-Purchase Merchandising is Worth It
Strategic Placement
An appropriate spot for your products can make or break how well they perform. It’s important to know your hotspots for impulse buys. They can be near the checkout counter, along the path of a main display or attraction, and/or next to complementary goods. Once you’ve found the perfect spot, you can watch how your products fly off the shelves.
Understand Your Customers
To understand how impulse merchandising works, it’s crucial to know what your customers’ behaviors and preferences are like. Think about your demographic and their shopping habits. Then, consider their interests and display products that closely relate to that. For instance, if you have a store near a national forest or a big camping spot, placing firewood near the checkout counter is considered an impulse merchandising strategy. This is because most people don’t go into a store primarily for firewood, so when they see it on their way out, they’ll be more inclined to buy it, especially if they’re camping nearby.
Keep It Fresh
Frequently rotating out different products and displays can give your space a fresh new look, and customers will feel it. Depending on what time of year it is, think about incorporating seasonal décor or trends within your fixtures and displays to really make your store feel relevant. These things often convince customers to make more impulse purchases.
Opt for High Turnover Items
It’s important to know the sweet spot in impulse merchandising where convenience and desire connect. Sometimes there are products that customers pick up and put back on the shelves or purchase and take back to the store immediately. This is considered a high turnover item. Overall, your inventory should be enticing and accessible.
Conclusion
Impulse merchandising is a great strategy to increase sales and sell new products. Don’t forget to use custom fixtures, strategic placement, and maintain a fresh look to give your store the ultimate advantage. Check out S-Cube Fixtures to transform your space into an impulse buyer’s haven with custom solutions, and more! Shop now.
