Increasing turnover rate in Retail stores with Neuromarketing
How the current retail scene is able to integrate neuroscience and neuromarketing to help boost their sales.
Let’s first talk a little about the psychology behind retail marketing.
Costco, has implemented a “treasure hunt” approach in their store, which means that they constantly shuffle locations where they place items that people are always reaching out for.
What is the logic behind this?
Shuffling items around store will make shoppers walk around the store more in search of their staples. Also Costco minimise the amount of signage above the aisles. While walking around the store, customers will discover unexpected items, which in science, when humans discover new items, or experience something new, our brain releases the same chemicals associated with joy and love. So whenever someone enters Costco, they are unconsciously anticipating the thrill of discovery.
How can we integrate neuromarketing technology into retail marketing?
Neuromarketing is gaining useful insights with the help of an EEG, which measures the neural activity, eye tracking to measure the eye movements and a few more other means to help us understand our consumers better.
When your customers walk into your store, what is the first item or where does he/she first lay their eyes on? By engaging the eye tracker, you are able to track the initial area they look at and with the help of an EEG you can see if the reaction was positive or negative.
If from your eye tracker records, you notice that your customer is looking through the shelves in a zig-zag pattern, this indicates that there is an unclear arrangement of your product, meaning that your customers is unable to locate the item that they are looking for.
In order to optimise the placing of your shelves, you have to know where your customers are looking at when they need a particular item. Knowing things like these can help your customers have a much easier time shopping at your retail and you’ll be able to maximise your sales efforts.
In order to optimize the shelf, it’s essential to know the basic customer gaze patterns. People tend to search for the right shelve by identifying a prototypical product. In this case, people will look for something bottle-like signaling the beverage department in the supermarket – which is, luckily, easy findable. After this rough way of categorizing, the so-called horizontal scanning starts. Now, people are searching for the right product category; the wines. Once found, people will start the last phase of searching; vertical searching.
They almost completed their search, but only have to search for their most-loved dry white wine between all the different bottles of white wine available in the shelves.
Any signs of zigzag patterns is a sign that your customer is experiencing trouble in the 3 mentioned steps above.
What was mentioned above is one of the many insights that could have been gathered using neuromarket research. Find out how to properly optimize your retail layout with the help of neuromarket research.