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Why We Buy: The Science of Shopping Tirthankar Sutradhar What is Shopping? I don’t mean what is buying It’s what we call the “grab and go” I think Shopping is more than the simple dutiful acquisition of whatever is absolutely necessary to one’s life. Shopping involves using our senses 3 big things that stores alone can offer shoppers a. Touch, trial or any other sensory stimuli b. Immediate gratification c. Social interaction ButtBrush Effect Good Key Performance Indicators for Retail ? Conversion Rate: How many of your visitors are buying ? Time Spend Rate: The average time shoppers spend in the store (more time = more sales) ? Interception Rate: The number of shoppers who have interaction with an employee (more contact = more sales) ? Waiting time: Customers don39。t like that There are certain physical and mon anatomical abilities, tendencies, limitations and needs to all people, and the retail environment must be tailored to these characteristics Transition Zone In any section of a store, the first product customer see isn’t always going to have an advantage. Sometimes The opposite will happen. You Need Hands Customers only has 2 hands. And if they carry a bag only 1: Help them with providing baskets, so they can carry more Bigger baskets, often means more sales Righthanded takes products from the shelves with the right hand: If you want to push a new product then set the topseller in the middle and the new product to the right of it What Retailers and Marketers don’t know How to avoid Shoplifting The Store Windows ? Conversion Rate: How many of your visitors are buying ? Time Spend Rate: The average time shoppers spend in the store (more time = more sales) ? Interception Rate: The number of shoppers who have interaction with an employee (more contact = more sales) ? Waiting time: Customers don39。t like that The Store Windows Change the window decorations often, so the people passing by wants to e in and browse Cust