SHOULD YOU DISCOUNT YOUR PRODUCTS AND SERVICES?

business Apr 27, 2020

I was shopping the other day and noticed something interesting.

Some brands don’t have “sales”.

Have you noticed? Country Road and other upmarket brands say things like “last of the best sellers” and Lululemon says “We made too many”.

They don’t want to be seen as being discounters – especially in their flagship stores. They don’t want to train their customers to only buy from the sale rack.

What can you learn from it?

Do you discount your products and services regularly? Are you always “on sale”

The way you frame discounts is crucial to your marketing. Are you known for always offering a discount – or are people happy to pay your full prices?

Call it a sale if you want, or you could get creative and have “loyalty appreciation” days, a “VIP perk” or a “fast action incentive”.

Basically – you don’t want to be the bargain basement!

What do you think?

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