Hardware Retailing The Industry's Source for Insights and Information
We all do it. We all visit a store with a shopping list in hand and end up buying more than the items listed. This list abandonment happens for many reasons, but some of us — depending on age — are more likely to make those additional purchases than others.
Below is data from a 2014 poll conducted by Gallup, a data-driven news organization. This study reveals that millennials are more likely to make impulse purchases than older generations, but the habit differences are quite small.
Applied to Retail: Capitalize on consumers’ impulsiveness by cross-merchandising products with clip strips and endcaps. Place low-cost, high-margin items at the cash register where your employees can prompt customers to buy them. Click here to read more about merchandising impulse products.
