The Power of the Impulse Buy

3 Simple Tips to Add Profits to Your Bottom Line

DjEEP Impulse Buys

It’s happened to us all. We’ve each entered into a store with a list or certain item in mind and have found ourselves walking out with something we never intended to purchase. A study conducted by Marketing Support, Inc. and Leo J. Shapiro and Associates found that every week, around one third of consumers make an impulse buy with a median purchase of $30.

The news gets even better for brick-and-mortar retailers because consumers are typically more inclined to make an impulse buy in a physical store than they are online. Impulse buys are surefire profit makers for any retailers, especially those selling tobacco products. From lighters, ashtrays, and other tobacco products, proper attention given to your sales counter can help increase the profitability of every sell your store makes. Here are three simple tips to get your customers impulse buying.

Presentation is Key
Group items according to color or size, a move that is subtle but sure to catch the attention of a customer waiting in line to checkout. Position a display prominently next to the cash register where the customer is sure to look when making their purchase, and another display near the front of the store where customers will have to pass on their way into and out of your store.

Change It Up
Impulse purchase items should feel new and fresh to the consumer. If your store has frequent customers, they will be less likely to make an impulse buy if the items on display are familiar to them. Change your counter displays and products at least once a month. Also keep in mind that impulse buys are typically low in price, size and lightweight.

Become a Hype Machine
An often overlooked part in impulse buys in the power of interaction. Encourage your store’s sales associates to initiate conversation with customers and bring attention to those special products you’re trying to sell at checkout. A good example is, “We have this new lighter in. They’ve been out for a little over a week now and we can’t keep them in stock!”

Proper merchandising, changing up your inventory often and simply pointing out these products can spark new sales and add a considerable amount to your store’s bottom line each year.

Story by Antoine Reid. This story first appeared in Phillips & King International’s Price Kutter.

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