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Impulse purchases increasing profits

August 12, 2016

Since the 1950’s, shoppers around the globe have succumbed to impulse buying and point of purchase displays.

Impulse purchases can drastically increase your profits and shouldn’t simply be an afterthought.

How do you get the most out of your impulse offerings?

  • Choose the right products
  • Draw attention with promotions
  • Encourage purchases with strategic placement
  • Use technology to further engage customers

Impulse buying isn’t just for bricks and mortar businesses. Online retailers have found many sly tactics to encourage last minute buys and upselling.

Online retail whether it be food and beverage, travel or fashion have all employed the following strategies:

  • ‘You may also like’ feature on product pages that show customers items other people have bought
  • Pop ups of complimentary products, for example when you buy a pizza online and an offer for discount garlic bread pops up before checkout
  • ‘Free shipping when you spend X amount’. Online retailers show a reminder near the shopping cart or at the checkout stage that informs customers of how much they need to spend to get free shipping
  • Sales (under $X) section on your site entices customers to purchase items they otherwise wouldn’t have
  • Push notifications that alert consumers to new sale items
  • Travel sites that encourage you to pay for seat booking and additional luggage or get slogged with huge costs at the airport, even if you don’t need it

Find out how you can get customers to buy more on the fly by clicking here.

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