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How To Increase Revenue From Impulse Purchases

We’ve all been there. We know we need something but forget about it when we’re in a place we could buy it. Then, we either have to go back to get it or continue going without it. If only there would have been something in the store to remind us, right?

Another scenario is that sometimes we see a product, service, or opportunity we would love to buy but probably would never have thought about if we hadn’t seen it highlighted in one way or another in a store. When we make purchases like this, it often adds value to our lives in the form of excitement, entertainment, or efficiency. However, if those opportunities fail to catch our attention, we simply miss out.

Point of Purchase Displays increase impulse purchases

Essentially, impulse purchases add value for both the seller and consumer. Impulse buying first caught the attention of researchers in the 1950s and soon it became clear how much they were a valuable source of revenue for retailers and how much they added value to the shopping experience of consumers. True, consumers are responsible for controlling how many impulse purchases they make, but often those purchases are products, services, or opportunities they would like to have anyway.

The beauty of Point of Purchase Displays is they help consumers either remember or discover things they would like to buy, and they help companies increase sales revenue as well.

While there are several types of impulse purchases, they all center around a consumer’s exposure to stimuli as well as their state of mind while shopping. When feeling certain emotions, consumers are more likely to feel motivated by marketing tactics like Point of Purchase Displays to buy things that cater to their current mindset.

In addition, many people experience a temporary high when they use something they purchased mainly due to impulse. They also experience a similar high the moment they remember something they were forgetting (unless they’ve already left the store where they could have purchased it). It feels good to remember, and even the anticipation of buying something can make a person feel excited.

On top of that, the fear of missing out (FOMO) is powerful. The fear of forgetting something is also powerful. Both cause consumers to shop longer, and they increase the opportunity for retailers to make sales. Fortunately, someone had the brilliant idea to create Point of Purchase Displays in an effort to capitalize on this concept for retailers and to help consumers avoid missing out on buying things they would like to have as well.

We include videos in Point of Purchase Displays

It was discovered long ago that creative Point of Purchase Displays in retail settings grab attention, boost sales, and improve the overall shopping experience of consumers. By adding amusement and variety, attractive Point of Purchase Displays can make it more likely that consumers will return to shop again at stores where they enjoy what they see, hear and feel.

As a way to capitalize on the versatility and popularity of videos, mass manufacturers have discovered ways to include a video screen in almost anything. Also, manufacturers have learned that videos being included in their Point of Purchase Displays are now sometimes necessary to get store owners to allow them to be placed in their stores. While there are benefits for all parties, store owners benefit the most from an upgrade in quality and overall perception when they insist on only allowing the best marketing pieces to be placed in their stores.

To learn more about Point of Purchase Displays or any of the other marketing products we offer, contact us today.

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