The Power of Temptation – Impulse Buying
E-commerce has revolutionized the shopping experience. It is now easier than ever to buy whatever you want, from wherever you are, at any time of the day! This ease of accessibility fuels the impulses of dedicated shoppers who are seeking out some retail therapy. Impulse buying causes consumers to buy stuff immediately. But what’s the science behind it?
Recent studies have proven that impulse buying accounts for 40% – 80% of all purchases, and consumers are paying up to $5,400 a year on impulse purchases alone! Not only does impulse buying make up a vast amount of purchases, but up to 72% of shoppers say impulse buying positively affects their mood – having the power to instantly turn a bad day around.
Online businesses don’t have the luxury of customers seeing and touching their products, which is a traditional way of triggering impulse buying. Merchants need to ensure that their customer experience is seamless – to reel in as many of those impulse buys as possible through a virtual platform. So, how do you create a positive customer experience to encourage spending? Here are some tips:
Optimize your checkout process
With how accessible online shopping has become, virtual shoppers expect extreme convenience when shopping. Many impulse purchases are prevented by poorly optimized ‘buy it now’ or ‘add to cart’ buttons, and even poorly optimized checkouts.
The end goal is to make impulse buying as easy as possible. These buys stem from a multitude of emotions, and we do not want to get in the way of the excitement of making a purchase, we want to fuel the excitement. Reducing the number of checkout steps and making a payment fast is key to avoiding losing a sale.
Multiple Payment Methods Available
Make sure you have enough payment methods available for deposit for a variety of locations and needs. There is nothing more frustrating than having a basket full of items you are ready to purchase, only to discover that the merchant doesn’t offer a payment method you want to use. Having multiple payment methods will allow for customers all over the globe to find at least one payment method that suits them, leading to a lot more sales!
People cozying up on their couches don’t want to grab their credit card in the other room, it’s literally outside of their comfort zone at that moment! Offer as many alternative payment options as you can, so that customers can enjoy the shopping experience without feeling like they have to do extra work.
A Responsive Web Design
It is very important to have a responsive web design. Clients should be able to easily navigate through your website on whatever device they choose, or is at hand at the time. Mobile optimization is highly relevant for impulse purchases, as online shopping is often all about pleasure. On smartphones, users scroll and wander, which is a great way to encourage indulgent behavior.
For as magical as the power of temptation is, shopping cart abandonment can still occur if a website is difficult to navigate. Shoppers who have fun buying stuff can still get bored. If you want to tackle SCA, ensure your online store is interactive, attractive, and easy to navigate. This will encourage customers to engage with your products and feel more excited about making the purchase.
Understand Your Client’s Needs
Understand your client’s needs and use them to your advantage. Creating a seamless user experience may not always be enough. Slickdeals’ recent survey showed that 52% of shoppers would rather buy something that is on sale than full price. These days, consumers are price conscious. No matter your target demographic, it is likely that they will buy products that offer greater perceived savings. There’s a reason that companies like to put products on what seems like a perpetual sale – it grabs people’s attention and makes them want to buy something while it’s cheaper.
Make sure you provide an option to shop without registration or make signing up as easy as possible through a “create an account” checkbox available at the end of the purchasing process.
Let’s Work Together To Encourage Impulse Purchases
Praxis has studied all aspects of the power of temptation. We can help you create a personalized checkout experience for your business, optimize your cashier, and so much more to ensure you are gaining all impulse buying opportunities. Reach out today!