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Increasing Impulse Buys
May 6, 2008

One Coast reports on the results of an interesting study, Increasing Impulse Buys. 

The most comprehensive study of impulse purchases was performed in 2002. According to the study, conducted by Leo J. Shapiro and Associates for Marketing Support Inc. of Chicago, almost one-third of all consumers make a sizable impulse purchase every week. The median purchase was reported to be $30. Of specific interest to gift-store retailers, the study found that about 25 percent of impulse purchases are made in specialty stores.

I have been trying to get Bev, my wife and proprietor of Landfair Furniture + Design Gallery, to buy into the idea of having “impulse items” in the store.  It has not been a priority with her.  I think I have finally convinced her that she is not capturing $25 to $30 from the many visitors to our store.  I am convinced we should offer impulse items.  The challenge for Bev is finding the right item.  She is negative on candles because Pier 1 offers them as does Target and Fred Meyer’s.
 
Susan Noyes, manager of retail operations at the Shops at South Shore Hospital, in South Weymouth, MA, says instant gratification plays an important role in impulse buying.

According to the One Coast article a good impulse item:

• …should attract attention.

Color plays a big role, says Noyes. Products that are noisy, sparkly, jiggly, furry, fuzzy or soft also work. The ability for a customer to interact with a product—touch it, smell it, taste it, even push a button and listen to it—helps increase impulse buys. "Get them to touch it," says Noyes, "once they touch it, they have to have it most of the time."

• It has to be uncomplicated.

• The customer develops a personal connection to the product.

• A good impulse item is small and can be picked up easily.

There’s a ton more information in the article including a chart that shows the median purchase for a variety of businesses.

Tell us your experience with impulse items.  Email me at landfair3554@comcast.net.

Posted by Mike Landfair on May 6, 2008 | Comments (0)