We’ve all been there: you get to the checkout lane after a routine run to the store and are shocked at all of the items that have ended up in your cart. After all, you only you came in for just one item.
Sound familiar? If that’s the case, you’ve probably fallen for the trap of retail price tags. Believe it or not, retail price tags can sometimes push you to make impulse buys you otherwise wouldn’t purchase. Here’s how you can use retail price tags to your advantage to make more sales.
Everyone loves to feel like they’re saving money, and retail price tags are one of the main ways that consumers understand the value of what they’re purchasing. Consumers looking to save money will often impulsively buy products that are on sale; about one-third of all consumers make a sizable impulse buy every week.
If you want to encourage impulse buys in your store, be sure to have your retail price tags show the discount the customer will receive, either by showing the original price as a comparison point or by adding a percentage discount on the tag. This will encourage people to purchase items that have been discounted.
If your products won’t directly benefit from individual retail tags, consider using shelf tags with a similar technique. Shelf tags for grocery stores will often use this method, sometimes referred to as the shelf-edge promotional strategy. This is another way to encourage consumers to capitalize on last-minute promotions. Rather than labeling individual products, shelf tags allow you to show the discount to your customers without having to tag every single item on your shelves.
If neither retail price tags nor shelf tags are ideal for your business, try using additional printed signs to advertise discounts and promotions that are currently ongoing. By making price points more visible, you’re more likely to have customers that make impulse purchases.
Looking to boost your sales with retail price tags, shelf tags, or other forms of advertising? Contact Pangea CDS today for more information on retail price tag software and other solutions for you and your business.