Things to avoid when comes to retails “Promotions”

Things to avoid when comes to retails “Promotions”

As everyone knows, consumers always love the magical word of “Promotion”. Retailers can use this tactic to design more powerful plans, to boost up the sales and retain customer loyalty in long-run but in another way around, often release promotion will drop down the sales value in the long term, so please bear in mind you need to do a right schedule based on your consumer behaviours metrics to determine when is the best session to boost up your sales, timing is the key to success.

Dizzy upon Product Selection

Is good to have an alternative option to choose when it comes to bundles sales, Is good to have an alternative option to choose when it comes to bundles sales, but too many choices can be paralyzing, in long-run managing stock level will be a big issue for you, or you may end up selling less.

Product Placement

Placing a low price but popular products – like candy or battery’s, – by the entrance of your store will drive consumers to make a small push to drive your sales, psychologist call it  “Shopping Mindset” when consumers purchase something from your shop they are more likely to buy more. Secondly, most of the customers don’t prefer the cheapest option, but they still want to get something quality for the money to spend, you may leverage this attitude to increase sales of specific items, by adding an extremely costly alternative in the same product category.

Use Conventional Background Music

Do you notice every shop we went to was playing background music? Playing the right music can influence how much people spend and also what they buy. For example, customers in a wine store were more inclined to buy French wines when French Music was playing, when German music was playing instead, people bought more German wines, hearing is a sense that can affect consumers spending habits and state of mind.

Free doesn’t intend devaluate product value

Giving out free samples feasible to generate more sales for your company especially for consumer products because most of the people won’t buy because of “taking the risk”. Customers usually won’t waste their money unless they already try your products, giving out a free sample to let them enjoy the Zero Risk offers and it may buy you some time to explain more about your product in front of your customer.

The Power of Illusion

People may react differently to the same product with a different sentence that printed on packaging or rack label.  For example, you may add the sentence “maximum 2 cans of soup per customer”, people may still buy more cans even the priced was the same as the day before because the majority of people “fear of missing out”, the feeling of scarcity will trigger them to buy more and quickly, same things that apply to “save more”, “limited stock” and more it can be done based on your imagination, think out of the box on how to trigger or leverage the inclinations to buy your products.

How about if I tell you that our Point of Sale (POS) system can help you set up bundles of the promotion settings that beneficial to your business model in the long run? Contact us now!