Do you own a Retail Store? You need to know these 5 Product Placement Psychology Tips
Many retail store owners may think that placing retail products on the shelf is as simple as…well, placing retail products on the shelf. Pick up items. Put the item on the shelf. No brainer, right?
There’s a fascinating world behind the science of retail product placement psychology. In fact, the science of product placement psychology is truly a learned skill and takes a practiced eye and artistry.
Find the Right Shelving for Your Business
However, before you get into the art of product placement, retail store owners need some type of shelving to display the product. While some owners may be tempted to buy all brand new shelves, this is often not the most affordable method. An excellent alternative is used lozier shelving, which is much more cost-effective than purchasing brand new shelving. Most used gondola shelving is in mint condition, which means getting the same durable quality for a fraction of the cost without sacrificing quality. Refurbished shelving is a great way to invest in your business while saving money at the same time.
Five Product Placement Psychology Essentials
Now that you’ve decided on shelving, it’s time to learn about the five essentials of product placement psychology, starting with:
Locate staples and essentials in the back of the store
Does it frustrate you to stop for a quick pick-up and have to walk all the way to the back corner of the grocery store to get a gallon of milk? Well, there’s a reason. This isn’t just to annoy customers. It’s because the store proprietor is using product placement psychology to get you to walk through the store and enhance your exposure to more products. When you pass items on the way to what you want, you re-pass them again on your way to check out. This placement psychology forces you to walk past other items twice. When you first pass, you may ignore things, but your brain doesn’t. Therefore when you cross again and see an item, it boosts the chance you’ll buy something else that catches your eye.
Set best items at consumer’s eye level
Place your best (and highest-priced) items at eye level. In fact, according to the product placement psychology statistics, placing your best products at eye level means 80% more of them will be selected compared to those items on the bottom shelves. There is one caveat. Your ideal client’s height! So if your items are marketed towards children, then load up the bottoms of shelves with your best, most colorful items, pricey items and watch your sales soar!
Put high-priced items toward the front of your store
Just like the staples go to the back, the higher-priced and luxurious items go right in the front or by the register. That way, when people are craving a treat the most and their carts empty, they’ll pick up the higher-priced item compared to seeing it when their carriage is already full. This is particularly true with luxury items rather than necessities.
Create an open floor plan to encourage spaciousness
Spaciousness in your store encourages people to browse. However, if you own a small boutique or specialty shop, this doesn’t apply. Using product placement psychology is essential if your store is larger. Use your space wisely. Try to rearrange items in groupings. This will make room for consumers to move around organically. Wider aisles can help. So the best way to create some space in your floor plan is to use vertical space wisely. This gondola shelving allows for an open floor plan and maximizes the available space. Following the product placement psychology tip of creating a spacious environment encourages sales and enhances the overall consumer browsing experience. When people feel calmer, they tend to feel better about purchasing something at your store.
Place complementary products together
Product placement psychology follows the basic organizing principle – like goes with like. And, you’ll find most clothing stores are the perfect example of this. The shoes go with socks, the matching sweater and dress set are right next to each other, etc. Or, for food stores, bread goes next to the peanut butter and jelly display. This is to help encourage and motivate the shopper to purchase both items together, therefore spending more money.
Owning a retail store is no easy task. Additionally, the pandemic has increased the difficulty level exponentially. In fact, using these five product placement psychology tips will help you increase spending by unconsciously encouraging customers to browse longer, walk past more products and higher-priced products, and ultimately spend more money than they originally intended. That may sound a tad insensitive, but it’s not personal; it’s just business. Any bit of business savvy can mean the difference between staying open and thriving or falling by the wayside.