Small business owners know that buying, renting, and maintaining space can be one of the most expensive parts of running a storefront. Every square meter counts and ensuring that your space is optimized is key to increasing impulse sales.
With a degree in Psychology and experience in retail and market research, I’ve found that simple human instincts can be capitalized on to boost your bottom line. Here are three quick and easy merchandising tips to generate more impulse sales from your retail space.
1. Remove Invisible Impulse Purchase Barriers
Many factors can prevent impulse sales even before customers have entered your store. While you can’t control everything, being aware of these barriers means you can take steps to prevent them. Here are some examples of impulse purchase barriers:
- Unappealing window displays or storefronts – Ensure your storefront and window displays are clean, bright, and organized to inspire more customers to enter and make purchases.
- Location with low foot traffic – Consider adding signage in a busier area to encourage shoppers to visit. Try to include a lead, such as an exclusive offer or an invitation to an event.
- Not pricing window displays – It’s better to price all items so customers know what to expect. If you’re concerned that your prices may be off-putting, try removing the currency symbols. By doing so, you reduce the psychological link between the price displayed and the customers’ perception of spending money.
2. Make the Most of Your Focal Points and Anchors
Good store design should consist of focal points and anchors by using different selling zones to maximize impulse purchase potential. It’s essential to take time to carefully plan your store layout.
The most important space is by the entrance because this encourages customers to enter. Place sale items or other interesting and popular products to catch their attention.
Focal points should contain items that can act as anchors. They should catch customers’ eyes and encourage them to visit different parts of the store. Many retailers find that placing key brands in these focal points encourages customers to browse the whole store. In turn, this maximizes impulse sale potential.
Tip: If you want your customer to browse, place items at eye level or higher. It’s a more comfortable height and more likely to grab their attention.
3. Optimize Your Display Equipment
Shop fittings and display equipment can make or break a store. To make the most of your retail space, ensure that your fittings and fixtures complement your store atmosphere and show off your products.
This includes the arrangement and condition of your fittings. Many retailers fail to realize that their fixtures need updating as they have become worn, damaged, or are not in line with the current visual merchandising trends.
Also, impulse sales can be boosted very effectively by positioning a shelving unit by the tills. These units usually contain small extras, like sweets, hair bands, or socks, that customers can easily add to their purchases.
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