With so much focus on multi-channel retailing we sometimes need to remind ourselves that for the vast majority of retailers well over 90% of sales still take place in-store. Customers like shopping in a physical store and many retailers are focusing on making visits more enjoyable by upgrading stores and improving the overall customer experience. The big question though is what can Retailers do to ensure that visitors to their stores buy more and that far fewer customers leave without buying anything? The sales potential is huge. A recent study by shopper research agency Shoppercentric reported that 28% of customers said they make unplanned purchases in stores across a wide range of categories. Most of those decisions are based on, or heavily influenced by, price so the most important thing for every store is to ensure that the price of every article is easy to see.
So assuming that the price of the product is clearly visible what else can Retailers do to encourage more of those unplanned buying decisions? Pierhouse believe that a basic shelf ticket simply tells customers the price and while that’s vital it does not sell the product to customers. To be convinced to buy customers must have extra information to help them make a decision. It’s a strategy that on-line only resellers have already mastered so we can learn from them. The information could be an offer, product details, ingredients, reviews, or a range of other things.
Pierhouse believes that adding value at the shelf edge with this type of information has a significant impact on sales. Marketing Director, Malcolm Wicks, said “The secret is to ensure that value is added for the customer and the only real test is if the signage increases sales of that product. If it doesn’t increase sales it must be easy to change the information or simply revert back to a basic ticket”. Pierhouse have created three categories of shelf edge tickets called Good, Better and Best with each one having more appropriate information to help customers make a buying decision. Contact us and we’d be happy to tell you more about them. Retailers with physical stores definitely need all the help they can get to increase sales and this approach will help persuade customers to buy more.