It’s almost the end of the year, which means you’ve probably got your eyes on your bottom line. Looking for a last-minute revenue boost? Look to impulse buys. There are a handful of things every retailer can do to merchandise certain items so that shoppers simply can’t say no. Here are some tips:
1. Anticipate shoppers’ needs.
If you’re a brick-and-mortar shop, think about everything customers might need during a long day of shopping—snack items, lip balm, mittens if it’s cold out. Then, stage all those items (plus any other holiday specials you’re hoping to sell) close to the register.
2. Put gift cards front and center.
Gift cards are impulse-buy (not to mention stocking-stuffer) gold, so make sure you display them prominently. (If you act quick, there’s still time to purchase certain types of Square’s gift cards before the holidays).
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3. Think small.
If shoppers can easily grab something and throw it in their shopping basket, they’re more likely to buy. Key chains, mugs, small jewelry, and holiday ornaments all make great last-minute purchases. If you’re an online retailer, think about affordability and make a section for gifts under $15.
4. Pick the perfect location.
The point of sale is the most obvious place for impulse items, but you should also take advantage of the front of your store. The first display that shoppers see needs to make a strong impression (if you’re online, focus on your homepage). If it grabs attention and provides an array of similarly themed (by color, category, type of gift recipient) products, bingo. That’s your ticket to a sale. Another good idea is to place items you’re looking to sell at several places throughout the store.
Now that you’ve mastered how to merchandise impulse buys, it’s time to go out and indulge in some of your own.