Stocking Stuffers and Impulse Sales: Racking up Revenue During the Holidays

Impulse-Sales

They’ve got the hot holiday items of the year. They’ve spent hours in your business considering, picking up, putting down and turning over items, inspecting each as closely as they can. Now they’re in line at the register, and they’ve forgotten that last stocking stuffer. This is your chance to seal the deal with some impulse sales.

Encouraging Impulsivity

Whatever your business, a colorful, eye-catching display coupled with universally needed items or hot holiday deals is the perfect recipe to net those last-minute buys. Urgency is a solid strategy to encourage those impulse sales. If you’re running a “limited time” or “today only” sale, try placing those items as close to the register as possible so they see them as they’re waiting in line.

You can increase that sense of urgency by highlighting the value of your deal. For example, if you’re running a 2-for-1 or BOGO sale, try placing those items near the register and calling out that sale with colorful, eye-catching signs. Making customers see a limited-time-but-exciting offer sweetens the pot and heightens that sense of urgency and fear of missing out.

Just the Stats

Let’s examine some of the statistics surrounding impulse sales to better understand where they’re happening, why, and how much people are spending.

  • 79% of those who made impulse buys did so in a store rather than online (CreditCards.com).
  • 20% of impulse buyers bought items worth $25 or less, a whole 4% more than the second place $25–$50 category.
  • Highlighting a limited time or one-day-only deal increases their fear of missing out.

Why the Impulse Buy?

84% of customers impulse buy, with 77% saying that urge grows in Q4. 61% of people 30 and younger say that most of those buys are personal—the items being things they see and want immediately (CreditCards.com). So, consider your average customer: are they young or older? Tech savvy or old fashioned? Stylish or more basic? These seem like small things, but not every product will appeal to every one customer, and no one knows them like you do. Use that knowledge to your advantage by strategically placing some of your highest selling, smaller, $25 range items near the register.

What to Choose

 Your choice of product is just as important as theirs. A personal electronics route is a good idea if that’s your specialty; your display could feature items like headphones and earbuds, wireless speakers or camera and lens cases.

If computers and office supplies are more your thing, cables, connectors & accessories are all a good choice, not to mention laptop accessories and chargers. Whatever your inventory consists of, make sure to play to your strengths.

Build the Perfect Display

 Whatever your business, an urgent display coupled with universally needed items or hot holiday deals is the perfect recipe to net those last-minute buys. To make sure you’re stocked up on all those important items, check out petra.com!

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