Is your retail store optimized for impulse buying? With some adjustments to the layout and design of your store, you could be making more money from people who will add-on to their purchases at the last minute.
Here at M. Fried, we’re not only the #1 gondola supplier in the country, we also help retail store owners like you with store design and layout so that you can make the most of common customer buying tendencies.
Here’s just a few statistics on impulse buying you ought to know:
1. Where Impulse Purchases Happen
According to a report from Invesp, 84% of shoppers have made impulse purchases. And while some of these purchases happen online, a whopping 8 out of 10 impulse purchases are made in brick and mortar stores!
In fact, according to a survey from Princeton Survey Research Associates International, while only 25% of people reported impulse shopping online, 40% of consumers reported they had spent “more money than they had planned” when visiting a store in person.
It seems that the greatest number of spontaneous purchases are all about food. Which is great news if you run a small grocery, convenience store, pharmacy, or pet store. Even if your store doesn’t fall into one of these categories, maybe you can start adding a few select food offerings near your register?
While food is reported as the topmost common impulse purchase, clothing, household items, and food are also high on the list.
3. Young People
When it comes to impulse purchases, it’s the young adults who most frequently indulge.
According to statistics, over 60% of consumers who are between the ages of 18 to 29 say they “routinely “make impulse purchases for themselves. Marital status – or lack thereof – is also important: single shoppers reportedly make more impulse purchases than married shoppers.
4. Unplanned Shopping Trips
Another major factor for impulse buys is whether the shopper is on a planned shopping trip or just spontaneously decided to stop in a store.
According to research, buyers are 13% less likely to indulge in the impulse purchases on a planned shopping trip versus an unplanned one. As a retail store owner, how are you enticing people to come into your store who weren’t planning on shopping?
5. Optimized Store Layout
While it’s important to get people in the door, what they find when they enter could be the determining factor in whether they impulsively buy – and how much.
It’s not simply a matter of what your store has in stock, how you present your offerings and lead your customer through a shopping experience can make all the difference.
If you’re interested in improving your store layout, our expert floor and design professionals here at M. Fried will be happy to work with you and your budget to create a floor plan that’s efficient and enticing for all your customers. The right design may be all you need to really profit from common shopper behaviors.
We can’t wait to hear more about your store. You can give us a call at 1-888-260-3994.