8 Simple Tips To Increase In-store Revenue
If you as a facility professional have a say in choice for colors, placement and display here are some simple things you can include to your checklist in preparation for the holiday season to increase revenue in your stores.*
1. Use music to attract potential shoppers.
For example, if shoppers like the type of music retailers are playing, they will be more likely to enter the store and like the products. Additionally, the slower the tempo of the music, the slower people will walk through the store, and the more they will buy. A faster tempo will encourage shoppers to walk faster and, consequently, they won’t buy as much.*
2. Psychological triggers to attract consumers
Instore signage that declares limits on items, offering “gifts” with purchase, employing visual tricks, and announcing that sales are ending soon (when in fact discounts are standard throughout the season).
3. Researchers have proven that a “50% off” signs lead to increased sales
Even if shoppers don’t know the original price or what a reasonable cost for the product would be, make sure to place that important 50 % off sign in the store.
4. Take advantage of traditional Holiday smells and tastes to attract customers.
For example, retailers may waft the smell of roasting chestnuts throughout their store and offer free samples of Christmas cookies. Holiday smells and tastes also stimulate the saliva glands, which makes shoppers hungry. Hungry shoppers are more likely to buy anything, not just food.
5. Stock “impulse buys.”
Stock impulse buys at the end of aisles and near the cash registers.
6. Red stimulates spending, purposefully weave red into your displays and holiday decor.
7. Use merchandise roadblocks.
People are significantly more likely to buy what they touch. This is why retailers design stores with tactile displays and merchandise roadblocks.
8. Pricer product placement.
Consumers are naturally more drawn to the center of displays, which is precisely where retailers place pricier items. The second most popular placement is just to the right of the center, where most right-handed people are most likely to see and touch first.