What seems like a trivial or otherwise insignificant purchase made last-minute in the store is, in fact, the end result of a carefully crafted sales tactic known as point of purchase marketing. Yet there’s much more to POP than convincing shoppers to buy something they otherwise wouldn’t have. Here is a brief breakdown of what point of purchase marketing is and why it continues to be a critical source of retail revenue around the world:
The gist of POP
The art of good point of purchase marketing involves creating a specific space within a retail setting in which a product is presented. Consumers walk by such displays every day, whether it’s in the form of bins, shelves, coolers, or stands. If given a moment to think back, most readers could probably recall buying a product placed in a point of purchase display within the last week.
Point of purchases versus point of sale
The most recognizable examples of POP displays are those in and around the checkout lanes of a grocery store or similar retail setting. However, the product displays in these areas are more precisely known as point of sale displays. POS is still technically POP, but examples of POP can be seen throughout a retail space, not necessarily near checkout. While POP is often associated with impulse purchases and the negative connotations found therein, it’s not always about last-minute buying. A new kind of cracker, for example, may appear in a display case near the cheese towards the back of a grocery store.
Here is our quarterly 13F roundup for high-profile hedge funds. The data is based on filings covering the quarter to the end of March 2022. These statements only provide a snapshot of hedge fund holdings at the end of March. They do not contain any information about when the holdings were bought or sold or Read More
Forms of POP
Point of purchase marketing, while often a temporary display built from cardboard, can exist in other forms as well. As previously mentioned, coolers for water and freezers for ice cream can act as permanent forms of POP. In today’s increasingly technological world, semi-permanent POP displays may exist in the form of HD screens in conjunction with a storage space where updates to the screen display can allow retailers to change what is stocked there.
Why POP marketing is successful
According to AZCentral, nearly two-thirds of all consumer purchases are made while at the store. That’s all a retailer or marketer needs to know in order to appreciate the importance of point of purchase marketing techniques. While consumer purchases still occur in the absence of POP, retail space is markedly more lucrative per square foot when POP is utilized.
How to use POP to boost sales
Simply setting up some displays and eye-catching signs is not enough to see optimum results from POP marketing. While it’s a good start, the position and other factors of POP displays is crucial to success. Ease and simplicity are key to getting the point across to consumers in a point of purchase situation, followed by the ways to draw attention.
Like many things in life, point of purchase marketing has always been there but we rarely noticed it. This, despite the frequency in which consumers count on POP for help in making their shopping selections. As such, the best POP marketing is that which draws attention to the product without drawing attention to itself. Marketers and retailers who utilize POP this way will manage to see sales grow.