5 Ways to Increase Retail Sales Fast
You're in retail, which means increased competition and slim margins. You need a way to stand out, and get customers visiting your store—and you need it fast.
Luckily I have five quick and cost-effective tricks to help you increase your retail sales!
1. Tweak your store for impulse buyers.
Did you know that 77% of shoppers admit to being impulse buyers? The majority of the time, people can’t refuse a good price or great looking product—unless they don't know about it.
Here are three quick ways you can rearrange your store to make sure customers bite on your best deals.
Play around with lighting, temperature, and color in your brick-and-mortar.
Instead of ordering new displays or fancy signs, just tweak the things you already have control over in your store.
Simply dimming the lights, for example, has been found to cause customers to make purchases based on pleasure instead of logic. And if only certain parts of your store are brightly lit, you can then choose to spotlight the products and deals you want to draw your impulse buyers to first.
Some retail stores have seen as much as a 35% increase in sales by using lighting to draw customers to certain products! Hollister, for example, has always used dim lighting to lead people through their store.
PC: Business Insider
Color coordinating your products can also have close to the same effect as lighting. 85% of customers say they’re emotionally influenced by color, and 66% say they won’t buy something if it doesn’t come in their favorite color.
So, if your products are color coordinated, impulse buyers can immediately find the color that speaks to them.
Lush, a cosmetic brand in the UK, has been able to sell their products at much higher rates than other cosmetics because of the way they organize their stores by color. The visual experience of Lush sells just as much as its products.
PC: Insider Trends
A final, quick in-store tweak you can make is setting your thermostat to 78 degrees Fahrenheit. Studies show this is the optimal temperature for increased purchases, because humans associate physical warmth with emotional warmth.
If you create a positive environment for your customers, their perception of your products will also be positive.
Add updates to your online product pages to create FOMO.
While online stores can’t use cool lighting or colorful displays to draw in customers, they can use powerful product descriptions. And the kind of product descriptions that currently have the most influence on purchases (especially with Millennials) utilize FOMO.
FOMO, or the fear of missing out, causes of 60% of impulsive purchases.
You can tap into FOMO is by including purchase updates alongside your product descriptions. You could count down the amount of product left, or mention the number of people who have purchased within the last few days. (Tools like Proof can make this easy.)
2. Step up your email game.
You already use email to keep in touch with your loyal customers (afterall, previous customers spend 67% more than new ones).
But if your newsletters and promos aren’t bringing in the wave of sales you’re looking for, there are two other types of emails you can send to get a spike in purchases.
Send countdown emails to create urgency.
Countdowns have been found to increase sales by almost 10%, because they create a sense of scarcity and urgency—which is also the perfect recipe for the impulse buyers we talked about earlier.
PC: Countdown Mail
Online tools like Countdown Mail can help you create simple email countdowns for free.
Pair these emails with an urgent subject line (like “Final hours! Up to 40% off") and you can increase your open rates by 22%!
Get 63% of lost sales back with abandoned cart reminders.
76% of all carts are abandoned online, but most of the time it’s just a simple distraction that’s pulled people away from their screen. That’s why cart recovery emails can help you recover 63% of those lost sales—which is huge!
Online tools like Granify can help you automatically identify when a cart has been abandoned. Granify is also great because it’s analytics can help you determine what exactly pulled your customer away from the purchase and then personalize the recovery email to cater to that reason.
This saves you both time and money!
3. Make the price right.
Pricing is the number one factor people use to determine where they shop, and 87% of shoppers say they’re heavily influenced by pricing.
To increase your store’s sales, you need to make sure your pricing is as enticing as possible. Clear labeling and subtle placement can do wonders for this, both in brick-and-mortar and online stores.
Place quick and easy to read deals at the front of your brick-and-mortar.
The goal is to make it as fast as possible for your customers to make buying decisions, so be sure deals are placed at the front of the store as they walk in.
Your prices should also always be rounded to avoid excess decimals, so people don’t get lost in any funky looking numbers. Having numbers that are easy to say aloud not only contributes to the speed at which your customers notice the great deal—research has found it can also make people think it’s cheaper.
So, even though $32.45 is lower than $40, your customers will actually be more drawn to the higher price because it’s rounded and shorter on digits.
Ending prices with the number nine has also been found to drastically increase sales.
You can combine both tactics to get the most out of your pricing. For example, compare how $75.45 looks next to $79.
Use the power of anchoring in your online store.
Similar to rounding numbers, the placement of your prices can also make products look more enticing in your online store.
Instead of just going by alphabetical order on your category pages, you could try sandwiching really expensive items next to your less expensive items so they pop out to your customers.
Anchoring your most expensive items on the left, so they’re the first thing your customer sees, can also make every price that comes after it seem like a steal.
The best part is, if you manage your store’s website, all these changes are quick and free to make!
4. Spotlight your happy customers to increase social proof.
66% of customers are more likely to make a purchase if they see some kind of social proof beforehand.
Social proof (or signs that something is popular with other people) can come in many forms, but possibly the two most important channels in marketing are social media and customer reviews.
Share your customers’ photos on social media.
Not only does this establish social proof, it also gives you a chance to model your products in action.
People love sharing their photos (that’s the entire point of social media), and they’ll jump at the chance to do the same on your page. Inviting your past customers to send in pictures of themselves using your product gives new customers a chance to see how much people love it.
Clothing, jewelry, and cosmetic stores can obviously benefit from this kind of modeling, but so can sports and tech. GoPro in particular loves using their customers’ photos to create social proof for their outdoor audience.
Ask current customers for reviews.
Businesses with 10 reviews have a 50% higher conversion rate than those with none. Reviews are absolutely vital to your store—especially since Google’s search engine prioritizes stores with the highest ratings.
So, you most likely aren’t going to be spotted in a search if you don’t have plenty of reviews to push you to the top.
How can you fix this?
70% of customers will leave you a review if you just directly ask.
You can reach out for reviews using email, or you could try reaching out with texting (which we’ll touch on more next).
5. Text customers to grab their attention.
82% of customers already use their phone to make decisions about purchases, so it only makes sense that texts can help speed up their buying process. And that's because texts:
- Have an open rate of 99%
- An average response time of 90 seconds
- And 89% of people want to text businesses
With texting, brick-and-mortar stores can increase sales by offering in-store discounts to customers who text in keywords. And online stores can build trust and increase leads by advertising that customers can text in their questions about stocks or shipping at anytime.
Retail stores can also use texting to:
- Promote sales and new arrivals with campaigns
- Share ideas and recommendations through picture messages
- Grow and communicate with a customer loyalty program
- Request and share customer reviews
If you have an existing list of customers who've given you permission to contact them, you can just use that list to quickly send texts through Text Request.
The key is speed and ease.
It doesn’t take a huge budget or marketing agency to prep your store for the holidays, and that’s why all the tactics we covered today are inexpensive and quick to implement.
Customers like doing business with stores that are convenient, and that’s why the tactics you use to increase retail sales fast should be convenient as well.