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A Peek into Purchase Decisions

Retail Focus - Purchase Decisions

YOU MAY HAVE THE BEST PRODUCTS, THE BEST PRICES, THE BEST REPUTATION AND BE THE FIRST OR MOST KNOWLEDGEABLE IN YOUR FIELD, BUT UNFORTUNATELY THESE THINGS WON’T GUARANTEE GREAT SALES IF YOU DON’T UNDERSTAND THE FACTORS BEHIND YOUR CUSTOMERS’ PURCHASE DECISIONS.

Here’s a closer look into eight purchase decision insights you ought to take note of.

REVIEWS WIN CUSTOMERS OVER
It’s been confirmed – your customers read reviews and are significantly influenced by them.*

So advertise positive reviews of your brand and products you sell everywhere: on your social media, website, in email marketing.

In moderation, negative reviews can help sales, so don’t delete them. Instead respond in a way that shows off your proficient customer service.

Read more about negative reviews here.

 

INFLUENCERS ARE A MIXED BAG
To gather information on your products and your brand, customers use traditional face-to-face interaction with family, friends and sales people, combined with social media and online sources.

One study has revealed that almost 70% of people consult friends and family before making purchase decisions. **

 

THE SUB-CONSCIOUS IS THE HEAD HONCHO
Studies show consumers make instant decisions with their sub-conscious. Often they won’t even know why they favour what they’re purchasing. That is until they’re asked, which will then involve them using their rational mind.

Often using the rational mind will sway them to completely contradict what they actually like, in favour of what fits best with society – so keep an eye out for on-trend products!

 

THE HERD WILL BE FOLLOWED FIRST
So many products are so similar. Why? Because consumers like them that way.

Society is a huge influencer of consumer decisions, with the majority seen to consistently follow the majority. Social norms and expectations become preferences. But who has a strong hand in shaping these preference to begin with? Brands and retailers that market well, that’s who.

 

THEY LIKE IT EASY PEASY
It’s in our human nature to prefer things that are familiar and easy to understand – to crave cognitive fluency.

For retailers this means that you’re more likely to make sales on products and offers that are easy to understand. You are also more likely to build repeat customers if you offer positive, easy service.

 

FLOORING CAN AFFECT THE BUY
Deciding what flooring, the cleanliness of your floor, the colour, texture or even how it feels underfoot can change your customers’ opinion of your product.

The feeling customers get from your store environment can affect the feeling they have for the products you’re selling, which in turn will determine whether or not
they buy.

 

SOCIAL MEDIA HAS POWER
Social media can positively and negatively impact purchasing decisions.

Instead of simply shouting to ‘buy this’, customers are looking for you to build a relationship with them through social media over time. This builds brand trust, increases credibility and presents brand personality compatibilities with your
target market.

Go beyond creating your own original content and let the brands you sell influence your social media by sharing their relevant posts.

 

EMOTIONS FIRST, RATIONAL JUSTIFICATION SECOND
It’s continuing to come to light that people make decisions based first on emotion over logic, then justify their purchase decisions.

Combining a rational message with your emotional message is seen as the best marketing mix. This allows your customers to be intrigued emotionally and able to justify their decision rationally after the purchase.

 

*Nielsen, 2010.
**Mintel, 2015

 

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