Through analysis of video tracking of consumers in stores, new research offers a greater understanding of how and why consumers consider and make unplanned purchases at the point of purchase. The research highlights the categories of products most likely to be considered as unplanned purchases; correlations between categories of planned purchases and unplanned purchases; and the behaviour of consumers most likely to make unplanned purchases (e.g. standing close to the shelf or talking to an employee increases the chances of conversion). Retailers can use this information to develop strategies to encourage unplanned consideration and purchase.
A team of researchers used video tracking to observe consumers in real time during the entire shopping process. Analysing the video, the researchers were able to distinguish a number of behaviours related to both unplanned and planned purchases, and as a result, increased our understanding of why and how consumers make unplanned purchases. The research team’s observation and analysis led to the following results and conclusions:
The research team included Sam K. Hui, Assistant Professor of Marketing at NYU’s Stern School of Business, Yanliu Huang, Assistant Professor of Marketing in the LeBow College of Business at Drexel University, J. Jeffrey Inman, Professor of Marketing and Associate Dean of Research and Faculty at University of Pittsburgh’s Katz Graduate School of Business, and Jacob Suher, a doctoral student at University of Texas, Austin.
There are a number of lessons for retailers to be drawn from the research:
Ideas for Leaders is a free-to-access site. If you enjoy our content and find it valuable, please consider subscribing to our Developing Leaders Quarterly publication, this presents academic, business and consultant perspectives on leadership issues in a beautifully produced, small volume delivered to your desk four times a year.
For the less than the price of a coffee a week you can read over 650 summaries of research that cost universities over $1 billion to produce.
Use our Ideas to:
Speak to us on how else you can leverage this content to benefit your organization. info@ideasforleaders.com