Providing an excellent customer experience has become a competitive strategy for companies in the retail industry.
In fact, statistics point out that in 2020, this factor will overpass the price and the product as a brand key differentiator at the point of sale.
However, to design a customer experience that stands out from the competition, companies must know in depth the shopping behavior of their client. This behavior can be influenced by multiple variables that can be classified into two categories:
Internal variables: It refers to the to the individuals own factors affecting its buying behavior. These include demographic, social and economic characteristics, personality, lifestyle, culture, attitude, motivation, and a perception of external stimulus though previous exposure and interactions with the brand.
External variables: it refers to environmental factors that affect the purchasing behavior, we can distinguish culture, subculture, social class, social groups, family, personal influences, situations of purchase and consumption, and the information that they access.
However, beyond these variables, there is an external determinant factor in the consumer behavior: the point of sale.
The influence of the point of sale on the purchasing behavior
Between 60% and 70% of purchasing decisions are made in store, most of this purchases are made by people irrationally and without planning them, as they go through the shelves, looking directly at the products and as a response to the different stimula around them (promotions).
On the other hand, according to a study by Instore Media and Ipsos, more than 30% of the new brand launches are discovered by the shopper at the point of sale.
When a person enters a store, unconsciously his brain is ready to buy. Therefore, it is more susceptible to visual stimuli than when sitting in front of the television or browsing the web. In fact, a study of the departments of studies of POPAI, found that the graphics stimuli (P.O.P) in the store increased sales by 9.2%, reaching even up to 97.1%.
The point of sales impact in the shopper’s behavior increases in the measure in which consciously works in its optimization: the store execution is fundamental.
Essential aspects such as product availability, proper product implementation, shelves space, exhibitions execution, clear communication of prices and promotions, as well as the impeccable implementation P.O.P. materials in-store are fundamental to succeed at the point of sale.
The store layout, information, comfort, design, advertising, lighting, background music, are some of the elements that can affect the buyer’s decision making process. Today, sensory marketing also plays a strategic role in customer behavior; the expert in the subject, Charles Spencer, explains that in the acquisition of simple things, the brain is influenced by the smells, sounds and other stimuli that exist in the environment. When they are managed with knowledge, it is possible to increase sales considerably. Making you feel a pleasant customer experience improves your perception of the store, makes you spend more time in it and therefore buy more.
This is why it is crucial to correctly plan the client’s experience in all points of contact with the brand, one of the keys being the coherence of the messages and the stimuli, which must be measured and frequently monitored to achieve the perfect execution for customers.
Do you want to achieve a perfect store execution?