Understanding the psyche of a shopper may seem impossible, but there are actually several simple principles that can guide you toward retail success. Here are a few tips and tricks to help you create a retail environment geared toward enticing shoppers to spend.
Keep it Simple
Consumers want choices, but how many? There’s a psychological concept known as the paradox of choice, which essentially posits that too many choices create an event horizon of stress that makes it almost impossible to make a decision. We’re okay comparing apples and oranges, but when you throw in bananas, strawberries, grapes, and watermelon, suddenly the complex task of differentiating the pros and cons sends our minds into a tailspin, leading to a sort of analysis paralysis.
As a retailer, you naturally need to provide options for customers, but be wary of just how much variety you offer. If you run an apparel store, having multiple sizes is a must for practical reasons, but is offering a shirt in twelve colors really necessary, or will a couple of neutrals and a splash of bright color better serve your interests?
Understand Color Psychology
Entire books have been written about color psychology, but what you need to know as a retailer is that colors can evoke emotional responses and targeted behaviors. For example, most people find the color blue attractive and calming, which can help to set the mood in your store.
On the other hand, we are instantly attracted to attention-grabbing red, making it just as good for sale signs as stop signs. When you want shoppers to feel and act in certain ways, think very carefully about the colors in your store and your displays, and what psychological responses they elicit.
Consider Reciprocity
There’s a reason free samples encourage people to make a purchase. We inherently want to reciprocate. When people give us something, we feel like we owe them something in return. You can use this drive for reciprocity to encourage sales in a variety of ways.
You might offer samples in advance to draw shoppers into your store and introduce them to products they might not otherwise try. Or you can put free samples or coupons for future purchases in their bags following a purchase to end every experience on an unexpectedly positive note, reminding them to follow and like you on social media as an act of reciprocity.
Pair Products
Online, you probably have programs that make suggestions for items shoppers may like based on what’s in their cart or previous purchases. Why not do this in-store, as well? Many apparel stores already put complete outfits on mannequins to show customers how great they could look when pairing several pieces.
Finding ways to do this in your own retail store could generate greater interest and boost sales (especially when pairing products that are performing poorly with best sellers, for example). When you understand the psychology of sales, you have the greatest opportunities to improve retail successes.
If you are interested in purchasing Retail Store displays and accessories for your retail store, shop our website, Specialty Store Services. We have everything you need to be a profitable retailer. If you have a question that you would like answered immediately, you can Live Chat, or phone us at 800-999-0771.