According to recent research, over 60% of all decisions to purchase a product are made while shopping in store. Whilst online promotions have taken the retail marketing industry by storm, successful retail businesses and merchandising companies like Sparfacts, understand the importance of using retail stores as a method of promotion. In fact, e-commerce leaders like Amazon are even starting to build their own physical stores.
In-store sales remain the bread and butter of any thriving retail business. In-store promotions and displays also remain the most effective way for retail businesses to establish and promote their brand identity, and to obtain a loyal client base. Read on to find out how you can utilise your retail store as a method of promotion.
- Window Displays
Creating a visually appealing and enticing window
display,is one of the most popular methods of using a retail store-front as a method of promotion. An attractive window display is the first glimpse of your store that consumers will see when browsing in a shopping centre. It is therefore essential to design a window display that clearly displays what your business sells, and entices potential purchasers to enter intoyour store.
- Seasonal Merchandising
The most effective way to use a retail store as a method of
promotion,is to ensure that your displays and decorations are constantly evolving. One way of ensuring that your displays and prices remain attractive for potential purchasers,is to create decorated seasonal and holiday displays, and by curating special holiday discounts and promotions. Decorating your store to suit the holidays and providing your customers with special deals on relevant products, is the perfect way of hitting your sales targets over the holiday season.
- In-Store Promotions
One of the key requirements of any successful business is ensuring that first-time purchasers turn into loyal customers. One of the key methods of obtaining a loyal client
base,is to utilise in storepromotions that reward repeat customers. Retail stores can benefit from flyers that are placed on the checkout counter that offer a discount or free gift following their next purchase.
Developing a loyalty program is also an essential method of in-store promotion. Asking customers to sign up for email communications ensures that you can remain in contact with previous clients, and keep them up-to-date with any new products or discount items available. Most customers will sign up for email communications if they are offered an attractive reward in return, such as a voucher
ofgift for every birthday.
- Bundle Pricing
Bundle pricing is the method of selling a set of goods or services for a lower price than if each item was purchased individually. Bundle pricing attracts customers into making a purchase, as they feel as though they are getting better value for money. Bundle pricing allows you to generate higher revenue from each customer. It also allows
toyou to get rid of outdated stock that would not sell on its own, by bundling it with high valueitems. Point-of Purchase(POP) Displays
Point-of-purchase (POP) displays are the products that you from the checkout line, right up until the counter itself. POP displays are so effective as a method of in-store promotion, as they encourage impulse purchases and upselling. Some popular examples of POP displays include:
Dump Bins: Dump bins are the bins full of products at a counter that require the customer to ‘dig in’ and search for a bargain.
Speed Bumps: Speed bumps are the product displays that you likely find as you may your way toward the checkout counter. These products are strategically placed to create a small roadblock to the final counter, so that customers are encouraged to make quick and additional purchases. Often these products are cheap or on sale, to encourage an impulse purchase.
These strategies are only some of the methods that retail stores can utilise to promote their products and additional services. Utilise these simple strategies in order to drive additional sales, and to curate a wealth of loyal customers.