When Is the Right Time for Deep Discounting?
(Resist the Temptation During a Crisis)
According to a 2018 Marketplace.org report titled “Divided Decade,” one of the key takeaways from the global financial crisis that began in 2008 was the dangers of deep discounting during challenging times.
“Retailers deeply discounted items to pad their bottom line, and customers got used to that. Combine that shift in mentality with the rise in dominance of e-commerce where finding the best deal can be done in pajamas, and you have an entirely different consumer… much of the retail world today is permanently on sale.”* Unfortunately many retailers have a tendency to give into this same temptation, not only during a pandemic but as a gut reaction when sales start to slip.
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This e-book spotlights 2 key questions to ask your customers, tips on follow up, and how to make adjustments that will help drive sales. And that’s not all: the book brings remarkable tips and best practices from leading automotive and E-commerce companies, as well as experts from Harvard Business School, Oracle, Forbes, McKinsey, and many more. |
*Source: https://www.marketplace.org/2018/12/20/what-we-learned-retail/
