It’s happened to just about everyone who’s bored in line waiting to check out at a store: You spot a candy bar, a pack of gum or a soft drink. Unable to resist, you throw it in your cart.
This scene, repeated countless times every day at grocery and convenience stores, is a textbook example of impulse buying.
Your decision to grab that gum may have been spontaneous, but the plan to entice you in the checkout lane was carefully crafted. It pays off for stores and brands, as shoppers spent $6 billion in the checkout area at stores last year, according to market research firm IRI.
“Impulse purchasing represents a much, much larger component of consumer behavior than people realize,” said James Burroughs, who studies consumer patterns at the University of Virginia’s McIntire School of Commerce. “The front of the store is prime real estate to put impulse items.”
But how do companies select which products to place…….
Image Credit – https://commons.wikimedia.org/wiki/File:CashRegister.svg