The Top 5 Ways for Stores to Turn Savers into Spenders

A Gallup poll conducted recently suggests that a wide majority of Americans – whether rich, poor, or middle class – prefer to save their money rather than spend it. This presents a conundrum for retailers, who are constantly fighting the uphill battle to turn scrimpers into splurgers. In honor of President’s Day weekend and Valentine’s Day, we present this list of ways for retailers to speak to the heart of those customers who just want to save and get them interested in some of this seasons’ great sales.

#5: Keep it simple
Before they open their wallets, customers need to feel confident and comfortable with their purchase. In an effort to sell, retailers often confuse potential customers with marketing jargon, an excess of details, and too many options. So break it down: remember what is important to your target market, and lay it out in plain language and clear terms.

#4: Make them smile
People feel like they are saving in two ways: when they spend less, and when they get more. Build positive associations around your brand by offering your customers an unexpected bonus. Whether you offer free samples, toss in an extra useful feature, or go out of your way to provide a better experience, make your customers feel happy and appreciated – it goes a long way.

#3: Build trust
One of the barriers that holds people back from buying is the fear that they are being taken advantage of. Take the time to understand and offer solutions to the unique needs of your customers. No matter how large your company is, stay approachable; make sure there is always a human face and a friendly voice ready to answer questions and offer assistance.

#2: Emphasize benefits
People don’t necessarily walk away from a sale because they don’t have the money; they simply don’t believe they need the product badly enough. If the goal of saving money is to make people’s lives easier, they need to believe that your services will make their lives more comfortable and special than a few extra dollars in their pocket. Take the time to educate your customers on the unique benefits that you can offer – it’s worth it.

#1: Offer discounts
More than actually spending less money, people like to know they are getting the best deal. So rather than simply dropping prices, make sure you are offering special sales, discounts and combos that leave customers feeling like winners. Ironically, it will make them want to spend more.

At Cartonomy, we have the privilege of working with a wide range of retailers from many different industries, so we understand the challenge: at the end of the day, customers are looking to save, while retailers are looking to sell. However, if you are selling right, you can make spending feel like saving – and that’s what turns a one-time-sale into a loyal customer. Cartonomy can work with you to present your customers with a more efficient and cost effective way to shop together online — building a network of trust that will boost your sales without busting their banks. Reach our team at sales@cartonomy.com to get set up with the right package for your business’ needs.