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Do you want your shoppers to spend more when they visit your stores? Which retailer doesn’t? One effective way to increase those basket sizes is through impulse buys—the act of making an unplanned purchase once already inside a store or browsing online. There’s a fair chunk of change to be earned through impulse buying, too. A survey commissioned by social shopping platform Slickdeals found that U.S. consumers spend an average of $276 per month on impulse buys.
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Consumer purchasing power from growing income and household wealth will lead to record-breaking holiday sales this year, according to predictions from the National Retail Federation. Gift buyers are expected to shop early, extending the holiday season even as retailers grapple with inventory problems. During November and December, holiday sales are expected to grow 8.5% to 10.5% compared to the same period in 2020, for totals ranging between $843.4 billion and $859 billion , according to NRF.
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