Over one-third (38%) of US adults have decreased their impulse spending this year, up from 14% in 2022, per a study commissioned by Slickdeals and conducted by OnePoll. As we enter the holiday season, there are still a few ways retailers can encourage impulse purchases, from experimenting with shoppable media and putting seasonal products front and center to anticipating the last-minute needs of customers picking up orders in-store.
1. Put seasonal products front and center
By nature, seasonal products are only available for a limited period of time. Retailers should take advantage of this by highlighting their seasonal goods and possibly even expanding their assortment to drive more sales.
Retailers or brands who want to take it one step further can use in-store retail media formats like digital end caps or digital displays.
2. Consider shoppable media
Nearly 6 in 10 Roku viewers have paused an ad to shop a product online, according to Roku’s internal data. Now imagine if they didn’t have to hit the pause button in order to make a purchase.
Shoppable media makes this possible by providing an opportunity for consumers to make a purchase from a platform they wouldn’t normally, like TV.
Social media platforms like TikTok and Pinterest are also offering shoppable media opportunities for brands.
- TikTok rolled out TikTok Shop to all US merchants earlier this year, which enables users to make purchases directly via the platform, cutting down the time to purchase.
- Though Pinterest isn’t pursuing direct commerce as it claims users prefer purchasing directly from retailers, the social network is trying to make its entire platform more shoppable through ads.
3. Anticipate last-minute needs for customers picking up orders in-store
Over half (53%) of US click-and-collect buyers make a purchase when picking up their items, according to an Insider Intelligence survey conducted by Bizrate Insights. A little more than half of those consumers (28%) said they purchased something at the register where they picked up their items, but 25% said they browsed in-store and made a purchase at another checkout.
To encourage those extra purchases, retailers can create a last-minute shopping station near order pickup stations and include items like gift wrap, hostess gifts, grab-and-go snacks and beverages, or gift cards.
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