I can tell if a retailer respects its customers by how it tells them about a special price. If a retailer says Special Buy, Price Cut, Price Break, Red Tag Special, Savings Today, Bonus Buy, Promo Price, Super Buy, Value Price or any of a dozen other marketing-major-from-a-C-level-school phrases, I know they don’t understand their shoppers. Because research again and again says shoppers like plain-spoken easy-to-absorb words.
It is a SALE PRICE.
All other variations are not considered clever or interesting by customers. They are perceived as tricky and perhaps misleading. Terms no retailer wants to be affiliated with.
Here is what customers want to know: What was the regular price? What is the sale price? (ok – maybe do the math for them to show the savings, if you want) When does the sale end? That’s it. Make it clear. Make it easy by making it consistent throughout your store and your promotions. THEN, make it easy for your stores to execute. That will decrease the cost of putting up and taking down all those signs.
It is a theme I will return to again and again this year as I endeavor to make retailers more successful with their customers: CLARITY. Be simple. Straight Forward. Direct.
This is a simple business. Don’t make it complicated with excess. Your customers will reward you for it and your bottom line will see the results.