Imagine increasing your shop’s profit margins by simply playing music. It’s not as difficult as you might think.
Latest figures from www.musicworksforyou.com/research has found that 90% of shoppers are more likely to select a shop that was playing music over one that was not; 90% of shoppers are more likely to recommend a shop with music playing, 81% of employers believe music improves the morale of their employees and 23% of shoppers would be willing to pay 5% more for goods if music was played while they shopped.
The figures speak for themselves. A background music system is good for business; it can increase footfall, customer spend, as well as staff motivation. A system can cost from as little as £500 for a small retail installation, making it an affordable asset that is invaluable to your business.
Of course, the type of music you play should also be taken into consideration. According to a study entitled The Effects of Background Music on Consumer Behaviour by The European Journal of Scientific Research, loud music can make customers move quickly whereas low-tempo music can make them move more slowly and even spend more. Classical music at a restaurant can make people spend more than they would if pop music or no music were played. An experiment where French or German music was played even resulted in the vast majority purchasing wine from the respective country.
It is important to follow your brand when picking your playlist too. Think of some shops you might see in your local shopping centre – places like Abercrombie and Fitch play loud, almost nightclub-like music in their stores. This can lead consumers to make a judgement on whether the brand is for them before they’ve even entered the store. In many food stores, music is mixed with announcements of the latest offers, giving a radio like feel. The Co-op broadcast messages detailing their other ethical businesses and even broadcast Kate and William’s royal wedding! This is okay for well-established companies with a strong customer base, but what about everyone else.
For fledging businesses opening their doors, it’s important to choose music suited to the target market; gauge the reaction of your customers and change the music regularly to keep things fresh. Food chain, Pret a Manger creates a more individual, boutique feel by playing music not usually featured on mainstream radio. They also switch between different tempos throughout the day to suit trading patterns.
Reflect the values of both your brand and your customers; creating a pleasurable environment that consumers will connect with and want to spend more time in.
Music can add the finishing touch to consumers’ experience in your establishment; taking the time to reflect your brand, enhance their experience and boost their aspirations can lead to big profits.