Science of Retailing and YOU

Here are six things about retail you may not have known:

  1. People spend 2.3 seconds on in-store brand decisions.
  2. Just over 90% of shoppers make unplanned purchases.
  3. About 70% of shoppers say they responded to end-of-aisle signage.
  4. Only about 25% off customers walk past halfway in the typical specialty store.
  5. Sales can increase by1.3% when dwell time increases by 1%.
  6. Most women (86%) look at price tags – less so than men. (I don’t know the exact percentage.)

 (Stats from an industry research project by Miller Zell cited here.)

These are all facts based on research. We could scan them and think it is interesting. But the key question is this:

What will you do differently now that you know these facts?

Let’s face it, if you do nothing, nothing changes. What is the point if all the smart people do the hard work to find out the science and the truth – and we simply continue to ignore it?