Persuade shoppers and sell more

By Hayley Wheatley

Those that made it through the turmoil of 2009 know the immense pressure to consolidate and rebuild sales in 2010. For many, this is the year for getting sales back on track whilst keeping budgets in check. Thus it's no surprise that persuading shoppers to buy whilst in the store continues to be an important focus for many businesses.

From the moment shoppers enter the store, retailers and manufacturers alike are presented with opportunities: opportunities to distract, opportunities to attract and most importantly, opportunities to persuade shoppers to buy something rather than walk away with their cash in hand.

So how can retailers persuade shoppers to buy and thus, make more money?

Persuading through in-store signals

From the moment a shopper enters the store, they receive signals.

These signals can be the lighting directing attention to specific shelves, the smell of the coffee brewing for sampling, the images of happy people eating, the yummy displays, the hum and cool air coming from the drinks fridge.

All of these sensory signals affect shoppers, and can generate sales.

Persuading through deal POS

Another way that shoppers' are affected in-store is through emotions, particularly through the thrill of getting a great 'deal'.

John Berenyi, Managing Director of Bergent Research explains, "deals continue to be very effective at getting us excited - and generating sales. The problem is that many companies are trapped in a game of limbo when it comes to promotional pricing, a 'how low can you go' strategy. This really eats into the bottom line."

3 keys for optimising deal POS by sending the right signals

It is possible to boost sales using deals whilst protecting the bottom line; the key is knowing what represents a 'great deal' to your shoppers.

Academic research, proven in field by Bergent has identified a number of ways to POS, for example:

Link the deal with the product:

put the product and price physically close together.

Get the font sizes right:

putting savings in a big fonts reinforces 'large'

putting the price in little fonts reinforces 'small' things

Exploit the real emotional benefit:

this is particularly important for deal POS which usually focuses on the price, not the benefit; for example, Professor Schindler from Rutgers Business School showed the real benefit of 2fers or Xfers is the appeal of getting something for free.

*So the wording of deal is critical

Figuring out which benefits sell more

Exploiting the right signals and motivations - in the right way - can be challenging.

To understand how to improve sales and ROI by delivering the right benefits in-store, contact Bergent Research on +61 3 9322 4000 for further information.