Monday, December 23, 2019

What is a Discount?









What is a discount?

Retailers are also consumers and should understand how they think, so here goes my reality check:

Retailer: The obsession with discounting in the apparel business is a retailer’s excuse for not working hard enough to find what the customer will buy at the original price.

Oh sure, there’s Amazon, Walmart, TJ Maxx, etc. etc. They made you do it, right? No. If what you are selling is comparable enough to theirs by any stretch of the imagination, then, is that the sandbox you want to be playing in?

Where is it written that there is only one sandbox in the world? I believe there are a lot of blue oceans in the apparel universe.

Consumer: If someone has to offer you a discount to buy, it is for something you did not want in the first place

OR


you outsmarted them by waiting.


















BUT, what if you really wanted to buy something and you didn’t know when or IF it would be discounted? What would you do?

Retailer: Unfortunately, the distortion of reality in today’s retail world is this: the discount is the real price. The original price is BS and has no real value for consumers. The retail gurus, led by Macy’s and Walmart, have molded the customer’s expectations, and trained them NOT to buy until they get what they believe is maximum discount.

There is no doubt that customers buy when they perceive the item is at its REAL value.

Consumer: SO, buying something you really like and want at the regular price tells us two things: a. The item has real value to you which is what? The price PLUS the internal satisfactions that the purchase would bring; and b. you have the self confidence to buy what you want, when you want, and at the price, because you want IT, not the price.

DOES that mean you should ignore discounts offered? Of course not. But the next time you hear the discount bells tolling, think about if they are tolling for thee. And, if you would not have bought the item at regular price, did you really want the item or just the momentary satisfaction of saving money?

BUT- are you really saving if you spent money on something you really wouldn’t buy in the first place, rather than putting that money toward what you really do want? AND, if we believe the saying, “you get what you pay for,” could you be making a mistake?
















SO, in the rare case that you go to buy something at regular price and are surprised to find that it is on sale, by all means snap it up (after you think about why the retailer has decided to give it away).



Retailer: IS there a solution to the discount mania that drives away profits and drives people nuts? IF there is one, the only hope is that people put their maximum effort into the PRODUCT and pack it with value, so the price asked IS the real VALUE. The hot item is out there- IF you look and have the merchandising touch to find it. 







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