Impulse buying – Boosting your bottom-line

Articles, marketing, strategy, word of mouth
Impulse buying has fascinated me for quite some time now. It is quite peculiar that most of the website and research around this topic highlights the negative impacts on consumers and none or very few people highlight how the impulse buying strategy actually can be exploited by businesses boosting their bottom-line. Promoting impulse buying behaviour The business implications are fairly obvious. If businesses wish to promote impulse buying, they should create an environment where consumers can be relieved of their negative perceptions of impulse. Businesses should stress the relative rationality of impulse buying in their advertising efforts. Similarly, they should stress the non-economic rewards of impulse buying. Additionally, businesses can make the environment more complex, further straining consumers' abilities to process information accurately. Such techniques as stocking more merchandise, creating stimulating atmospherics, and increasing…
Read More