Finding the right way to promote a product is one of the concerns of all merchants. Among the different marketing strategies, the promotional sale is the most popular. It allows boosting sales, at least for a certain period. Reducing prices also helps to encourage buyers. Here are 6 points that prove that discounting is a foolproof way to launch a new product.
1. Drawing attention to the product
There are several ways to draw attention to a particular project:
- Putting it in front
- Careful presentation
- Choose an attractive packaging
- Offer it at an affordable price.
Indeed, a cheap product encourages impulse buying and therefore becomes popular. In addition, a new item would make an excellent gift. It is on this last point that we insist.
2. Encourage customers to buy in quantity
It doesn’t take a study to prove that shoppers love sales. It allows them to buy in quantity without going too far beyond the predefined budget. Moreover, buying new products at a reduced price is a shopaholic’s dream.
Did you know that many people allocate a special budget for sales? Retailers use the sale period to offer new products. On the other hand, shoppers leave with the pleasant feeling of having made a good deal.
3. Increase the average basket
The attraction for low-priced products affects both men and women. Therefore, a promotional sale is an opportunity to reach a maximum number of target customers. Some retailers choose to place promotional products next to the best sellers or in the center of the store to highlight them. This way, customers will make their everyday purchases and take the new product.
4. Have it tested
Running a promotional offer is also a great way to test the product’s popularity. Customers are attracted primarily by the introductory price. But the verdict on the quality will also soon become known. Nowadays, satisfied or dissatisfied consumers quickly share their opinions on social networks. So, if the product is not only affordable but also of good quality, it will probably make the rounds on the web within a week. And in a short time, the orders will come pouring in.
5. Create traffic in your store
Offering a new product and an attractive introductory price can also increase the traffic in a store, at least during this period. Moreover, buyers are more attracted by the cost than by the novelty. Buyers who are not part of the usual clientele of a store discover it. This is an opportunity for the salesperson to offer them the other products as well.
Internet advertisements have a better chance of success in an increasingly digitalized world. Indeed, the majority of customers are looking for good deals on the net. That’s why many companies dedicate a special page to current promotions on their site. They also post the announcement on social networks to increase online bookings.
6. Quickly sell out
What makes an introductory price successful is, above all, its limited duration. Therefore, it is important always to set a deadline for the offer in order to rush purchases and quickly deplete the stock. However, the exhaustion of the stock should not put an end to the promotion. Otherwise, shoppers will tend to underprice the product, which is far from the desired effect.
In short, offering a discount allows you to promote a new item and, at the same time, to make the store known. Therefore, choosing the right price range and communication means is important.
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