Psychology Behind The 'Impulse Buy'

If you aren't taking advantage of 'impulse buys' in your retail store, you are missing out on a simple way to generate additional sales. Owners can boost their store's revenue by incorporating these products into their inventory. Keep reading to learn the psychology behind the impulse buy and how to maximize its effectiveness in your retail store.

What Is an Impulse Buy?

As the name suggests, impulse buys are triggered by customers' sudden impulses. The customer probably didn't visit your store with the intention of purchasing an impulse buy product, but nonetheless, something triggered in their brain which told them to buy it. You'll oftentimes find impulse buy products lined along the checkout lines at retail stores. When customers are waiting in line to check out, some of them will instinctively grab these items without thinking twice, generating additional sales and revenue for the store.

What Triggers and Impulse Buy?

There are several different elements known to trigger impulse buys, one of which is hunger. I think just about everyone has grabbed a candy bar, bag of chips or soft drink while they were waiting to check out. These hunger cravings instinctively send signals to your brain telling you to purchase snack items. Even if you didn't intend to purchase these snack items, your brain convinced you otherwise. Of course, this is just one of the many triggers of the impulse buy.

In addition to snacks, you'll also find as-seen-on-TV products lined along the checkout aisles. This is another type of product that's triggered through impulse buys. When customers see a product they believe will improve their lift in one way or another, a trigger clicks on which encourages them to make a purchase. Whether it's a CD holder for their car's visor, hair clips, a cup holder, or electronic key finder, these are all products which may trigger an impulse buy in consumers.

How To Maximize The Effectiveness of Impulse Buy Products

Location is key when it comes to displaying impulse buy products in a retail store. Tossing your impulse buy products into your traditional everyday products isn't going to work. Instead, you need to display them in a more visible area where customers can easily see them. Checkout aisles and endcaps are two highly popular and equally effective locations for displaying impulse buy products in retail stores.

Don't be afraid to switch out your impulse buy products if they aren't generating a positive response among consumers. Test out new products to see what works and what doesn't.