Use Your POS Software to Determine Your Store Layout
If you use your POS software to determine your best and worst moving products, the position of that product in the store will help determine how fast it turns. Shoppers want to interact with your store inventory and feel and touch.
Why does touching an item increase the likelihood of purchase? The motivation traces back to what behavioral economists have labeled the “endowment effect.” This phenomenon suggests that consumers value a product more once they own it. And simply touching that product may increase a shopper’s sense of ownership, and compel the consumer to buy the product.
“When you touch something, you instantly feel more of a connection to it,” says Suzanne Shu, a marketing professor at UCLA’s Anderson School of Management, and co-author of the study. “That connection stirs up an emotional reaction – ‘yeah, I like the feel of it, this can be mine.’ And that emotion can cause you to buy something you never would have bought if you hadn’t touched it.”
Retailers should hang signs that say, “feel me.” For a more subtle approach, the authors single out the Apple Store as a model. The company openly invites its customers to fidget with its gadgets, and once you start playing with the iPhone, it’s awfully hard to leave the place without one. Make your store a fun store and stop putting all the items in cabinets, display cases and places that canâ€™t be reached. Let your POS Software help design your store.