Let’s wind the clock back to the early 90’s when I was strapping young lad.
Back in those days (and even now) I loved my music. And one of my highest priorities was building up my music collection. It was my prized possession.
Keep in mind, in those days CD’s were relatively new, and people still bought vinyl albums and cassettes.
As for digital downloads, they were a long way off.
Anyway, the point is I used to love hunting down bargains of my favourite bands. Part of the reason was that I was always broke. But I also hated paying full price and always felt good when coming home with a heavily discounted new album.
And you know what?
A high percentage of online shoppers are just as passionate about finding bargains as I was all those years ago.
It’s human nature to want a bargain, and to get value for money.
Therefore it makes good sense to include a section for sales and specials.
Don’t believe me?
Okay, check this out…
An E-tailing Group study in 2011 revealed that 47% of online buyers would only consider buying products that are discounted, unless there was exceptional circumstances.
And 62% mentioned they look for a section that displays current sales and specials.
Some pretty compelling evidence there, right?
But still I hear merchants say things like… my margins are too low to discount… or we are not targeting the cheap skates.
Either way, you’re still missing out on a lot of potential customers.
And the thing is you don’t have to discount all your inventory.
Just choose a few popular products, and do some research on your competitors (you can bet your customers are doing this research too).
Decide what pricing you’re going to test, and put them up in a prominent place on your website, ideally above the fold on the home page.
Notice I said “test” above too.
There’s nothing to lose by at least testing some specials and seeing the response.
If the numbers don’t stack up, then revert back to how it was before.
Nothing ventured, nothing gained I say.
If you’d like to discover more e-commerce profit boosting tips like this, then why not book in for a free e-commerce site review with myself?
You’ll end up with a stack of recommendations you can start implementing immediately.
If you’re interested, here’s where to go: