How to Determine the Right Time
Reflect on the last time you purchased something– whether it was at a grocery store, hardware store, convenience store, or even a hair salon. Think about your journey through the store as you shopped. Were you in and out, only looking for items on your list? Or did something in the store stop you and catch your attention? Did the item then make it into your cart?
We’ve all been there– the impulse purchase. Every single one of us has made an unplanned purchase in our lives. And we know what you’re thinking– how do I get my customers to conduct more impulse purchases in my store?
After understanding the importance of right product, right place, and right price, a key driver of an impulse purchase occurs when all of those attributes culminate at the right time. Timing is everything: You’ll want to catch buyers in the moments that will impact their purchasing decisions, and it’s your job to make these moments happen.
As an example, be strategic about where you place your impulse products. Positioning near checkout and near your bestsellers places your products at moments of highest sales probability. In those two sections, your customers are already in a mood to buy, increasing the odds of them making additional purchases.
As another idea, be sure to think about complementary goods, as part of buying behavior is to think about how a particular product is going to be used. Salty snacks placed near beverages or wine bottle openers right next to a bottle of Merlot are often pairings that provide a stoppage of a moment in time for your customer. A big part of getting the right time is to get your customer to ask “Do I need that?”
As you determine how to position products throughout your store, and get your timing right, remember: Every customer product interaction is an opportunity to generate a sale, strengthen customer loyalty, and boost revenues. Remember that the next time you walk your sales floor.