Impulse Buying: How It Can Benefit Your Business
Dropshipping with Sellvia, you get numerous business benefits that will help you stand out from the competition. However, in the ecommerce industry, you have to take advantage of every opportunity you can find. So, have you heard of impulse buying? Triggering this type of customer behavior is a great way to achieve quick sales! And with Sellivia, you can add lots of different best-selling products that encourage potential buyers to purchase from you instantly!
What is impulse buying?
Do you remember that one time when you were simply browsing through an online catalog of a website, suddenly stumbled upon something that got your attention, and bought it without a second thought? Well, that was an impulse purchase.
Basically, impulse buying means getting something spontaneously, without planning this purchase or researching the market to compare different options and find a better deal.
For ecommerce businesses, impulse buying is one of the main engines for sales.
Why do people purchase something on impulse? There are several reasons why people tend to do this. Most notably, people make impulse purchases based on their emotions and feelings, past experiences, or if they think that they get a good offer.
How impulse purchases can affect your business
Now that you know what impulse buying behavior is, what kind of influence can it have on your business?
Did you know that a couple of years ago, half of the purchases made by people 18-24 years old in the United States were impulse purchases? And even though people of other age groups were less inclined to buy products on impulse, the percentages were still pretty high, too.
Furthermore, according to a survey provided by SurveyMonkey, only 11% percent of the respondents said that they never made an impulse purchase! That means that the other 89% have purchased something on impulse one time or another. That’s like 9 out of 10 people! The survey was conducted among American citizens, so, you know what to expect if you’re going to target this market.
What’s interesting is that 23% of men and 16% of women admit to spending $100 or more on their impulse purchases. That’s a pretty hefty sum people are willing to spend.
What’s even more fascinating is that during the pandemic the US citizens have spent even more money on impulse purchases. The average American spent about $182 monthly on impulse purchases.
From this, we can conclude that impulse buying is a very common thing that many Americans are willing to spend their money on. So, by carefully assembling your product range you can generate impulse purchases and increase your profit as a result.
Still, to achieve this, you need to understand what an impulse product is. How do you arrange your catalog in a way to make your visitors add as many products to their cart as possible?
We have made a list that might be of some help to you. Let’s take a look.
How to generate impulse purchases in your online store with Sellvia products
In order to generate impulse purchases and reap the benefits, you need to understand what type of products trigger impulse purchases.
Of course, it can be hard to account for everything, as different buyers purchase different products. And it is natural because people have different interests, needs, and what’s most important – levels of income.
In any case, here are some recommendations on how to implement impulse buying to boost your store revenues.
Choose your products wisely
The best impulse products are simple products. These products don’t need a lot of explaining as it is understandable what they are for.
It makes it even more perfect if the items are small and inexpensive.
Trigger the right psychological points
You can generate more impulse buys by focusing on the right psychological aspects. For example, you can create a sense of urgency by launching limited-time offers. Or make it seem like customers are getting a good deal by creating value in the form of discounts.
Carefully consider where to place impulse products
This part is all about making these products visible so that your customers can stumble upon and buy them. Where can you place them?
- Around the most popular items
- Related products
- Mention them closer to the shopping cart and checkout
Keep in mind that it is important to make them noticeable and eye-catching.
Focus on products with a low initial price
You can set the price of products with low-initial prices almost 2 or 3 times more than they are actually worth.
Nevertheless, upon applying these tips to your online store, you have to remember that the most important thing is to carefully consider your target audience. Then, you will be able to understand what kind of products will be suitable for impulse purchases by that audience.
Keeping all of this in mind, our catalog includes only the best product offers that will be suitable for people of all ages, interests, and levels of income.
Let’s look at some of the best products you can get!
Cute peek-a-boo elephant toy
One of our all-time best sellers! Loved by people of all ages. This elephant toy is a perfect gift for children or maybe a loved one. It’s cute and it’s affordable!
This lovely fellow will make great company to anyone. He is so soft that he is perfect for laying on, sleeping, or even simply holding. Who wouldn’t want to cuddle with this adorable little animal? He will be a perfect gift to anyone.
Toddler crawling knee pads
How can we forget about the little ones? These comfortable knee pads ensure the baby’s protection and comfort at all times.
Car seat organizer
Our product catalog has a broad range of items that will fit customers with absolutely different backgrounds. For example, this car seat organizer will be a great addition for car owners. No longer they will have to be worried about losing their belongings in the car! They can simply put all their items here and drive safely without any distractions.
Car trash bin
A universal thing all car owners have in common is that no one likes garbage scattered around in their vehicles. That’s why this handy trash bin will come in especially useful.
Multifunctional dog toy
And how about pet owners? Sellvia has lots of products that will suit any dog owner, such as this multifunctional toy.
Final thoughts on how you can benefit from impulse buying
Impulse buying is significant for online businesses because a lot of people are willing to spend their money on impulse products and in ecommerce, this is one of the main purchasing drivers.
With Sellvia, you have access to a database of best-selling products, which you can benefit from as they are perfectly suited for impulse buyers.
Sellvia is your ticket to dropshipping successfully to people located in the US. So if you choose to dropship to the US with Sellvia, all your customers will get their orders within 1-3 business days. As a result, you will avoid many difficulties other dropshipping entrepreneurs face and have lots of satisfied customers.