I’m often asked by our fabulous retailers how they can improve sales of a particular product without discounting it. Because who actually ever wants to discount, right? Usually we do it because we need to move a product, get some quick turnover or promote our business/brand. But it’s really not the most brilliant way to sell stuff. As soon as we discount something, we squeeze our own margins, and if you’re running a business that actually needs to (gasp!) turn a profit, squeezing margins isn’t a good way to grow that business.
In addition, regularly relying on discounting to sell product conditions consumers to never want to pay full price with us again.I know, because I was a retailer once upon a time and I’m still a consumer.There were customers who would email to ask me when my next sale would be. And there are websites I won’t visit until their bi-annual 20% off email comes out… the owners have conditioned me to expect the sale and I won’t bother visiting until it happens. Why should I?
If it’s not a time-sensitive purchase, it’s hard to convince people to purchase at full price if they are used to a discount.
Anyway, I digress… back to my fabulous retailers!
In answer to these questions, I’ve put together a blog series about 6 ways to increase sales without lowering margins. It’s geared very specifically to cloth nappy sales, but can equally be applied to any product range. You can read the first instalmentover on my other blog now. I hope you find the series useful and fun to implement.