Fancy is getting a lot of revenue traction into the retail sector.
Impulse buying refers to the unplanned decision taken by a consumer to buy a service or a product. Psychological researches reveal that emotions play a crucial role in motivating the consumers in making the buying decisions. People are emotional by nature. Emotional thoughts stimulate shoppers 3000 times much faster than rational thoughts. Feelings play a vital role in almost all the buying decisions. To dominate the market, retailers are now increasingly focusing on manipulating the customer emotions and making sales happen.
Much often laughed off as a guilty pleasure, impulse buying is getting all the retail attention. Retailers tend to manipulate on the customer's impulse related to the basic instinct of instant gratification. A person may generally drop in as a shopper with no specific intention of buying. However, the way merchandise is displayed in the window, and in-store may trigger the buyer to buy what, may otherwise not be considered. Attractive display of clothing in beautiful mannequins will create a fancy in the minds of the customer. This fancy lets the customer to buy high end things on a retail store.
facts about impulse buying:
- Impulse buying is made not because it is necessary, but to lift the shopper's mood.
- More than 88% of the impulse shopping is made because the merchandise is on sale.
- On an average impulse buying is made on 40% of the store visits.
- 25% of the impulse buying consists of clothing items.
- In case of
unplanned and sudden shopping trips, impulse buying goes up by 23%.
Impulse buying disrupts the normal decision making process of the consumer. The logical sequence of the consumers' thinking process is replaced with an irrational urge for self gratification. Displaying merchandise in an attractive way appeals to the emotional side of the shopper. This stimulates the shopper's impulse, ultimately motivating him to make the buying decision. Much of the marketing is designed to make use of the customer's impulse buying nature. Retailers use every possible psychological technique to steer the customer to make the decision.