According to Retail Training Services, in a recent study mass merchandisers discovered that 66% of all purchasing decisions are made in-store. Interestingly, the same study revealed that 53% of those purchases are made on IMPULSE!
Bearing those statistics in mind, you can see why it’s so important to dedicate some of your marketing efforts on the customers that are already in your store. One way to do this is by ramping up your point-of-purchase marketing.
Placing small, inexpensive items at the checkout counter, for example, can really boost sales. Additionally, creating an area where customers can browse products while waiting in the checkout line is also effective. You’ve probably seen similar point-of-purchase marketing methods at stores such as Joann Fabric & Craft and TJ Maxx. It’s a technique that works because it triggers impulse buys for customers who are already buying something, prompts impulse buys, and distracts them from long checkout lines and wait times.
While point-of-purchase marketing certainly includes your cash register and checkout counter, you’re by no means limited to these areas in your store.
Here are 6 tips that will help you increase your point-of-purchase sales:
1. Invest in Better Signage – Point-of-purchase signs are essential in communicating brand messages, drawing attention to displays or products, and getting busy consumers to stop and shop some more.
In one 2012 study of Sunfood displays across five stores, the health food company added prominent header and side signs to the most basic of wire racks.
What they discovered was that the added signage not only helped them better promote the Sunfood brand, but average turns for the products increased 30% to 8.3, compared to the national average of 6.4.
If you’re not taking advantage of point-of-purchase signage, you’re missing out on increased sales opportunities.
2. Demonstrate Savings – If something is on sale, it’s important to show it. Use boldly colored signs to clearly indicate sale items. And don’t forget to display the amount of the savings. Consumers won’t know what a great deal they’re getting if they don’t know how much the item cost prior to the sale. Want to inspire urgency? Make sure your signage clearly displays a “sale ends” date.
3. Maintain Clean & Orderly Displays – In addition to a floor layout that makes sense to shoppers, you need to make sure that the displays throughout your store are clean and orderly. Dust, grime, and unkempt displays can be a major turnoff to consumers.
A tidy store, with organized displays, will encourage shoppers to spend more time looking at items and not wasting all of their time searching for different styles or sizes.
4. Use Cross Merchandising – Specialty retailer, Trader Joes, cleverly displays wine next to food pairings that go well with wine. Additionally, the food display tags name the great pairing wines and stacks the mentioned wines within arms reach of the displayed food items.
In most cases, merchandise has complementary items that work or pair well together. Grouping these items together in a display will create sales opt-in opportunities and encourage impulse buys.
Remember, though, while great displays and merchandising techniques are effective point-of-purchase methods, you can increase your revenue opportunities even more by providing your staff with good sales training. Help them understand the concepts of suggestive selling and provide them with the knowledge and tools necessary to successfully increase in-store sales.
5. Provide Samples & Demos on the Sales Floor — Retail businesses like Whole Foods readily offer samples throughout their stores, as well as inviting suppliers and vendors to set up booths and tables on the weekends so passing customers can sample their products.
Take a cue from Whole Foods and set up stations throughout your store where customers can try your products before they buy to help influence purchase decisions and increase sales.
6. Take Advantage of Mobile Devices – Join other smart retailers who are taking advantage of savvy technology tools available to even the smallest businesses.
Providing your salespeople with tablets, for example, will help them quickly look up product information or inventory status to answer customer queries more efficiently. You can also speed up checkout by using tablets to accept customer payments anywhere in the store.
Additionally, as customers browse the store, they can interact with your mobile apps on their smartphones, which can sway purchase decisions through special offers, discounts, or exclusive information on specific product lines (as well as showing them where to find the items within the store).
Today’s digital world gives you the opportunity to use mobile devices as tools to improve store efficiency, customer care, and profit for a significant advantage over the competition.
The cash register is your last opportunity to increase sales with point-of-purchase marketing techniques. But that doesn’t mean you can’t use cleverly merchandised displays, signage, and product demos or sampling stations throughout your entire store to help things along.
Take advantage of the six marketing opportunities listed above to optimize your entire retail space for point-of-purchase marketing that will help boost your in-store sales.