Variety is the spice of life…this old saying has been proven factual when it comes to business. Switzerland’s University of Basel, along with Indiana University in the United States, reviewed 50 experiments involving over 5,000 consumers. They learned that the more choices a shopper had the more they spent!
Time after time shoppers spent more when they were offered a greater variety of goods and services. Regardless of what the original intent of the shopper was or the item being purchased, this pattern held true. The research concluded that having plenty of options lead to increased sales across the board.
How can you apply this in your business? Easily, offer more! It doesn’t matter if you have a service based company or operate a retail store, giving your customers variety pays off. This might mean adding new services to your existing list of offerings or bringing in new merchandise.