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Builders Gift Builders Gift will focus on help you understand the main challenges and opportunities that the Retailer’s supply chains are seeing today.

Put popular but inexpensive items by the entranceOnce people have made a purchase, no matter how small, they are more li...
01/05/2022

Put popular but inexpensive items by the entrance

Once people have made a purchase, no matter how small, they are more likely to buy more items, psychology says.

A smart way to use this effect is to place low-price, popular products – like candy or newspapers – by the cash register. This kind of items, which most customers buy without having to think about it for long, is particularly suitable for small, last-minute impulse buys.

Use items’ popularity to make them even more popularPeople tend to copy other people’s behavior, also when it comes to b...
01/03/2022

Use items’ popularity to make them even more popular

People tend to copy other people’s behavior, also when it comes to buying decisions. This is a typical shortcut the brain uses to make good choices with minimum effort.

This is the reason why online reviews are so important for sales. A recent study showed that how many reviews a product has is actually more important than the actual rating, meaning that people prefer something that a lot of people have tried over something with perhaps better rating, but which is less popular.

Don’t offer too many optionsPeople think they like choice – but too many options can be paralyzing. This is what scienti...
12/31/2021

Don’t offer too many options

People think they like choice – but too many options can be paralyzing. This is what scientists call the paradox of choice. In a popular study, they set up two tables in a grocery store. At table A, customers could have a taste from a selection of six jams; at table B, they could choose among 24 different jams. More people stopped by table B, where the selection was larger, but only 3% of them actually bought a jar. On the other hand, almost one third (31%) of the people who stopped at table A bought a jar of jam.

Have a loyalty programLoyalty programs are a great tool for retailers: they provide important insights into customer pre...
12/29/2021

Have a loyalty program

Loyalty programs are a great tool for retailers: they provide important insights into customer preferences, increase loyalty – and, according to studies, they can also make customers feel happier in your store.

12/24/2021

Learn everything about Retail Strategy Specialization with Builders Gift

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