When you slash your price “just to get the sale” two things occur.
You are saying your “everyday price” is too high AND you don’t get customers, you get buyers loyal only to price?
People curb spending in bad economic times because fear makes them reconsider whether or not they “really need a NEW one”. Limited sales and discounts are designed to take people on the fence and nudge them into making an impulse buy – but in this climate there is no impulse buy.
Revisit value. Example: a company bought one of our systems and told us it cost about $700 less to buy new from us than to use a display they already owned. They could amortise acquisition on their first show and over the life of our product, save many times the purchase price. But to make the purchase, they first had to get over the idea of “buying New” and see what the existing costs to use what they already had were doing to them.
Having a “Big Sale” refocuses attention on the price not the package and when you do that, you become your own worst competitor.
Moreover, special sales and discounts train people NOT to buy. Look at Dell or GM – if I don’t like this month’s special, I’ll just wait. Christmas shopping used to start the day after Thanksgiving. Now people wait until Christmas Eve, buy gift cards and use them after the the holiday when retailers are gasping for air.
In my humble opinion the only thing “Special Sales” close – is businesses.
What do you think?
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