Almost everyone, especially women, love the word “Sales”. Some people who shop abroad for trade purposes even try to schedule their trips during the ‘Sales’ period. Who doesn’t want a huge slash or in some cases, free items? That’s why retail shop owners and marketing strategists have and will still be successful with some deals they advertise. It’s so hard to resist when you see that ad or when you browse down the aisle in the supermarket. You instantly want to take advantage of this deal even when you didn’t plan to get those items. That is exactly the Shop’s strategy to lure you to get a great deal. But how “great” is this deal? You might be marveled to learn the real truth behind these ”freebies’. Here are some familiar deals advertised to make buyers hurry up to save money, but how much are you exactly saving.
- Slash Sales: While walking down that shopping aisle, seeing a “50% discount” got your heart singing in soprano. What intelligent resale shop owners do is write down the former price(which is usually high) and put a slash on it. Displayed alongside is the new price. When you see the great difference between the first price and the second price, you just jump on it ‘cos you think it’s a great deal and a huge favor giving you at a lower price. Well, shop analysts and psychologists have proven that this act alone will lure any customer into buying, when in the actual sense the slashed price (the new price) is actually the real price and worth of the product. So if you think that slash was doing you a favor….Not really!
- The ‘Buy One Get One Free’ Deal(BOGO): Everybody loves free stuff. Who doesn’t? So retail shop owners take advantage of this behaviour by advertising the BOGO promo. When customers see this, they think they are getting a second item for free when in the actual sense, they are paying for almost two products’ worth. How? During BOGO sales, the first product, the “1” to be bought has already been bumped up in price. In some cases, it is worth the price of the two products. For example, a bottle of X shampoo sells for 1,499 Naira. In BOGO sale, you could see that same bottle of X Shampoo for 2,499 Naira and the second bottle “free”. In the actual sense, the “free” bottle’s worth had been fully or partly factored into the first product. Making you even spend more than you would normally do. If you don’t want that, you could simply ask the retail store attendant for single products to truly save yourself buying more than you need and paying more for things outside your budget.
- GREUN TRANSFER: Ever heard of it? Named, perhaps unfairly, for mall architect Victor Gruen, the term refers to shopping layouts that disorient visitors, slowing them down with the goal of increasing their impulse purchases. It is basically when you enter a shopping centre and become confused by the layout, thus forgetting why you are there (what specific purchase you intend to make) and instead become an impulsive buyer, spending on stuff you never planned. It happens to new visitors in a shop, sometimes even the regular visitors fall prey, especially when products are interchanged on aisles frequently.
- The Sense Of Urgency Tactics: This is actually advertising, that products or services are limited just to make the buyer feel like he will be losing out if he doesn’t grab the opportunity. In the actual sense, there is still a high possibility that the product is still in stock or the service is still available despite the time frame. If you notice, when this time elapses, the strategist still comes up with another open window period for the said product or service.
It is almost impossible not to fall for these deals even when we know the truth. But just incase you are in your thrifty days and you just need to be a tad more frugal, just so you don’t fall prey everytime you see “great deals” like these, you could take a minute and punch that calculator pad to really see how much you are saving before buying that ‘free’ bottle of shampoo, you really don’t need.
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