retail-localization-campaign-compliance-trendagram

How do stores suck you in?

Sales and promotions of course! Who doesn’t love a sale? These days you almost feel guilty buying a product or service for full price. Based on a recent survey from Nielsen, Canadians love bargains so much that 75% only buy items when they are on sale! When an astonishing percentage of the population only considers buying items on sale, retailers have no choice in becoming more promotion intensive. Instead of the traditional 4 times a year sale promotions, some retailers are promoting bi-weekly sales and discounts.

In a video posted by Yahoo Finance – Canada reveals tactics retailers use to attract customers by “discounting” items and how sale prices are determined. Below, we’ve highlighted how to point out if you are getting a real deal or the sale is a retail strategy trick in getting customers to buy more.

Price experts say it’s all in the price tag:

Image

* Image from Yahoo Finance – Canada

For Target: All priced items ending .99 is considered full-priced. When the last cent ends in either a 4 or an 8, the item is on clearance. On the top of the price tag is a number that represents the percentage the item is discounted at.

Image

* Image from Yahoo Finance – Canada

For Old Navy and The Gap: Final number ending in 7 is considered a final markdown price.

 

To view the video:

https://ca.finance.yahoo.com/video/stores-determine-sale-prices-210619243.html

 

 

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s