What is Purchase Funnel in Retail? Explained

The purchase funnel, also known as the sales funnel, is a conceptual model in the retail industry that illustrates the various stages a customer goes through before making a purchase. It typically comprises several stages, starting with awareness, followed by interest, consideration, intent, and finally, the actual purchase. The funnel represents the customer's journey, reflecting their progression from becoming aware of a product or brand to making a decision to buy. Retailers analyze and optimize the purchase funnel to understand customer behavior, identify areas for improvement, and implement targeted marketing strategies at each stage to guide potential customers through the buying process.