When it comes to marketing your product, a largely overlooked market you may want to consider is that of impulse buys. These products, often marketed as quick & easy or to-go products and typically placed next to the check counters, are there to encourage shoppers to grab one last thing before making their final purchase. The decision to purchase these products is largely driven by feelings and emotions, which can be played upon using different marketing strategies to attract customers. These items mainly consist of sweets and smaller food items, but there is a lot of room for growth into this untapped market, and it may mean big business for you.
Research suggests that over 90% of shoppers make additional, unplanned purchases when they are triggered by emotions and feelings while shopping, and a vast majority of these purchases are food. More than 40% of shoppers end up spending more than they anticipate because of impulse purchases, and many times when a consumer feels that they are in an over-stimulated environment, they are more likely to make the purchase without much consideration.
The majority of FMCG sales are done in brick and mortar stores as opposed to online stores, which is good news since almost 80% of impulse purchases are still made in person. These small purchases add up and these products tend to fly off the shelves much quicker than you might expect. The FMCG industry has a lot to take advantage of with this opportunity and your business can benefit from marketing toward these impulsive shoppers!
Here are the top categories for impulse purchases right now:
Ready-to-Eat: pre-made and packaged fresh meals & snacks
Beverages: sodas, juices, health drinks, smoothies, energy drinks, etc.
Sweets & Snacks: non-perishable, small items, good for on-the-go
Personal Care: small or travel size items like toothpaste, tissues, lotion, lip balm, etc.
If you’re looking to capitalize on this marketing opportunity, here are some things to focus on:
Keep packaging bright & attractive
Make sure that your packaging is right for impulse buying. This means it should draw the eye of the consumer with bright colors or an aesthetically pleasing design. This is the time to really entice shoppers while they look around waiting for their turn to pay, so piquing their interest tends to pay off well. It may be worthwhile to invest in innovative packaging ideas or new designs for this line of products. When it comes to low-ticket items in the checkout lane, packaging can be one of the most important driving factors.
Keep prices low
Most shoppers tend to have at least a general idea of what their total will come out to before even getting to the register, so at this time they are unlikely to be willing to add something expensive to the mix. Focus on keeping impulse products small and low price, as this will help convince customers to buy them. If they feel that the item won’t affect their overall spending much, they won’t have to think twice about making the purchase. Most consumers consider price to be the main deciding factor in whether or not to go through with an impulse purchase.
Think of what the consumer might need
Impulse marketing may have a place for sweets and food items, but that’s not all! Sometimes shoppers tend to forget about smaller ticket items, so providing them with a small visual reminder before they leave could encourage them to throw it in the cart at the last minute. Small personal care items do well in these spaces. By thinking ahead and anticipating what they may need but could easily have forgotten, you will end up helping both the shopper and yourself.
Whether your product is ready to hit the shelves as an impulse product or it still needs some fine-tuning, Wabel is here to help you to connect you with our network of buyers who are looking for products like yours now! To get in touch with them and start meeting great matches, contact us today!