Okay, it’s true. Your customers are loathe to buy unless they feel they’re getting a deal.
Consumers have been trained into the wait-for-a-discount mode by years of retailers doing nothing, marketing-wise, to increase value, simply relying on price cuts to motivate the opening of wallets. They have even “fooled” the public by overpricing in order to be able to “cut” prices.
So how can you give them that “I outsmarted the shopkeeper” frisson while protecting the profit you must make in order to stay in business?
Especially when you and I know that heck, your prices are already good, super everyday bargains… and to offer 20% or whatever off those prices is simply not fiscally responsible?
It’s so simple. Try not to smack your forehead so hard you give yourself a headache.
First, clear off a rack in some nice visible part of your shop. A rounder, a 4-way, whatever you want to fill with deals.
Next, grab your rolling rack and go through your shop. Select, let’s say, all the tops priced at $10 or less. (Your dollar value will vary… depending on your market, your pricing, and how big that empty rack is!) Original price, first markdown, second… doesn’t matter. Put them, nicely colorized, on that empty rack and
Make signage. “Select tops $10 or less!”
Then social-media the heck out of that.
Voilà! Customers feel thrifty, you preserve your profit margin, everyone’s happy.
You could even, and I personally would, sign that rack “Select tops 2 for $20 or less!”… selling just one if that’s what the lady wants.
Auntie Kate The Resale Expert 