There are manifold sales methods and tactics to entice customers and boost sales.
Psychological marketing practices at the point of sale are essential to encourage the buyer to opt for one product over another through impulse purchase by displaying the many benefits to the consumer; without a hefty price tag attached, as is too often the case.
The consumer is constantly "blitzed" by excessive needless information, when it’s simply more productive to apply strategies with a "differential factor" premise.
A clear scheme for positioning the product commercially, while obtaining the expected result and benefit is the display, which, with the proper sales pitch, enhances the success of the products’ cycle.
1- Displaying suite lots
Be they alike or distinct products, or incorporating a giveaway, they must always be interrelated.
When launching a new product into the marketplace; this tactic is often used by combining a high turnover product with the product being launched.
Another approach to consider is to offer the lot at a tempting price, in the form of a “savings pack” or “launch pack”.
Special launch price or discount on the purchase of a second item are added-value options.
2- 50% off display’s second item.
This point seems similar to the one above, but with a slight difference. In this case, the lot must contain identical products. It’s an effective way to sell additional items to the same customer.
But buyers aren’t misguided. The customer will not be taken in by raising the initial price so that even with 50% off on the second item, they’ll ultimately pay the cost of both items bought separately. Customers are wise to the fact that they need to divide the combined price to get the real cost. They’re not easily deceived, and the strategy might backfire.
But if a real offer is intended, where two articles are presented at a combined lower price, the end-result can be spectacular. You’ve now managed an assertive campaign. Case in point, pushing product overstock or simply promoting a product makeover.
It is important to keep in mind that, offer or not, if the customer wishes to buy but the one item (paying the standard price), the offer should still be viewed as an upside, as pointed out above.
3- Price… before & after
We all enjoy bargains, when we realise and appreciate that a product at full price a few days back is now on sale, it becomes extremely attractive.
As a curio, this happens even when an article is priced higher than similar ones found on the standard shelves. The sole fact of embellishing and offering it separately in a display acts as an unexpected drive.
This strategy must be clear and transparent. If customers realise they’re being cheated (the sum of the individual components is inferior to that of the display lot’s rate), they’ll become distrustful. Not only will they not acquire the article, but they may also question the establishment’s ethics and stop shopping there altogether.
4- The brilliant €0.99 or €0.95 price-tag
A true-to-form technique, successfully exploited since the early days of sale offers.
Regardless of the symbol – we have used the "0" in this section’s headline as a mere sample – what truly matters is the number in which it ends. In consumer psychology, it’s been well proven that the operative numbers in sales are 99 or 95, (96, 97, or 98 just don’t work as well).
To consumer's minds, these numbers always have the upshot of having made a good purchase. It produces the desired effect of not having spent too much on any given product.
A display showing these price tags is always a great sales statement.