In August we can still see in the shops the last traces of the sales.
Final sale, third sales, last units… the discounts come to an end to welcome the new seasons and the new academic year when September begins.
With the arrival of summer, our consumerist spirit soars, and the reason is usually the arrival of the aforementioned sales. With the holidays, shopping is on the increase and it’s time to indulge in those treats you’ve been looking for at a lower price.
But when we come across these discounts it’s not all about long-awaited purchases. Impulse buying plays an important role. Today we analyse some of the strategies used by shops and shops to make the sales one of the most desired times for consumers.
What strategies do retailers use to increase their sales during the sales?
- Psychological prices
The use of decimals to indicate prices, especially those ending in 5 or 9, is very appealing to the consumer. The non-rounding of prices makes you perceive that the offer being launched is even greater. The figures support these results: products with prices in decimals are sold 24% more than those without.
- Reference price
By law, shops are obliged to display both the discounted price and the original (reference) price. But displaying the old price also works as a marketing strategy. It becomes the most direct way for the consumer to see how much that product has fallen. Related to this, if the rebate results in a reduction of figures in the price, it is seen as a greater discount than when it does not occur. In other words, if a phone goes from €110 to €90, it is more attractive than if it goes from €99 to €79. In both cases the discount is €20, but by removing the hundreds from the first price, the discount seems larger.
- The seasonality of prices
If prices were to remain low all year round, consumers would no longer perceive them as something special. We would cease to believe that they are a special and auspicious occasion to buy, and sales would decline.
It is true, however, that the sales have slowed down compared to previous years. The reason? Now we find offers spread throughout the year: Black Friday, Internet Day, VAT-free Day, CyberMonday, Singles’ Day…