Do BIG BLOWOUT Sales Really Work?
HERE ARE A FEW STATS:
7 out of 10 people report using an emailed discount each week.
75% of consumers report scouring their inbox just to look for relevant discounts.
Consumers are 4 to 5 times more likely to make a purchase if you offer free shipping.
Studies confirm that consumers associate discounted products with a lack of performance.
SO WHAT DOES THIS ALL MEAN?
First, consumers love discounts! Buyers typically respond well to sales and are more likely to buy an item if it is discounted. However, if a business offers discounts too often, the brand may become associated with markdowns. This means that a company must be strategic about how and when they offer blowout sales.
The idea that consumers associate discounted products with a lack of performance is one of the reasons a blowout sale tactic may not be as effective as expected. The way to combat this is to offer a good reason for consumers as to why the product is discounted. For example, seasonal deals, sales, and discounts make sense to a customer. Black Friday, Cyber Monday, Christmas, and New Year sales are good occasions to offer sales without a buyer questioning the quality of the product. A company’s anniversary is another great time to offer a discount.
Second, bundled deals are also a great tactic because it allows the customer to see the quantity of the items they are paying for. “Gift Sets'' are a similar way to do this and allow you to offer a group of products for a discounted price.
So, when considering if your company should use blowout sales tactics, remember that a business must protect their brand and integrity of their products. If items go on sale too often, they won’t be viewed at their full value. Sales are most effective when customers think it is a rare occasion that won’t be coming again soon. If given a logical reason for the sale, consumers will not associate a discount with a “lesser” product.
If you are a business looking to learn more about your customers, their behaviors, and don’t know where to start, we’ve got you covered. Ezer is here to help your business with digital consulting, content marketing, social media management, and more! Click here to learn more and contact us today to get started!