Point of purchase is a profound element in retail marketing and promotion of products. A well-designed POP can proportionally increase a shopper’s total at the cashier’s desk. This is what every retailer wants to see, isn’t it?’
Related Post: Organize Your Store Displays with These Nifty Supplies
More retailers are embracing the point of purchase strategy to increase their sales. Multi-storey department stores are often crowded. However, this may not mean much if it does not translate into sales of your target products.
Whether you already have one or planning to put one in place, Gush Global is your best bet. Here are critical things you should know about a point of purchase.
What is a Point of Purchase?
POP is a form of retail marketing that creates a focal point for a target product you intend to market. It is a planned area within the store that intends to capture potential customers’ attention, such as within the stores’ aisle or shelves.
A POP can take the form of a promotional stand, displays, or bins for creating excitement and arousing curiosity. It’s a turn-around point where the customer decides to add a product to their shopping basket.
Types of Displays
There are three types of point of purchase, namely:
- Temporary displays
- Permanent displays
- Semi-permanent displays
Temporary display-This kind of display lasts a few months. It features some discounts, promotions or seasonal offers.
Semi-permanent display- This is a Powerful Display intended to last for three to twelve months. It is also known as a secondary or shelf display. A temporary POP is effective when the design is keenly crafted to capture the audience attention.
Permanent displays- This is designed to last for several years and is usually taken by major brands. They are less common and more expensive.
How to Plan for your Point of Purchase Display
Increased competition- A cut-throat competition from other retailers should inform you of your niche. Find out what they’re doing, what works and what doesn’t. Then, improve your strategy to keep ahead of them.
Customer demand-Conduct thorough research and base your target products on the consumers’ needs and wants.
Consumers’ expectation- Leverage on the customers’ expectation from a given product because you’re likely to make more sales.
Who uses Point of Purchase?
POP is typically used in brick-and-mortar stores and intents to lure customers into making impulse buying. However, technology is significantly implying virtual shops selling goods and services online.
How does POP affect marketing?
Every retailer should take a keen eye to the point of purchase display in their marketing strategy. Any marketing tool that may enhance sale outcome is a valid approach towards influencing your target audience.
How can you gauge the success rate of the POP display?
The following may be used as success indicators.
- Impact ratio- Observe the average number of customers who look at the POP for a sufficient period.
- Engagement ration- How many customers interact with the POP by touching, asking, opening, or reading labels.
- Conversion ratio- How many clients have picked and paid for the product? However, if they pick and return it to the shelf, that’s a lost conversion.
Every retailer that wants to succeed should research on the point of purchase as a critical marketing toolset.