Innovation in In-Store Promotions: Effects on Consumer Purchase Decision

Abstract

With retail competition at an all-time high, today’s retailers must find new ways to attract consumers and inspire high levels of customer loyalty. Due to the scarcity of time and advancement in technological and strategical innovations, it becomes inevitable for the retailer to come up with various new ways of promoting the brands and their products in-store at the time of decision making. Innovative retail set up can create a truly differentiated in-store experience with fun, interactive tools that put a wealth of information at customers’ fingertips during the right time of purchase decision. Retailers open in-store media (ISM) and allow manufacturers to advertise to shoppers. With an informative and easy-to-use retail experience, shoppers are empowered to access a wide variety of real-time product information— including pricing, location, availability, helpful advice, targeted promotions and more — right in the aisle, without waiting for a store associate. This enhanced self-service gives customers the best of both worlds — the instant information access in an internet-based online store and the irreplaceable tactile experience of shopping in the brick and mortar store. This research paper discusses on various in-store promotional strategies, new shopping solutions and how this in turn helps the customer to make purchase decision right in the retail store.

Keywords: Retail, In-store promotion, Purchase decision, Innovation