Ever wonder why people camp out of shopping malls just so they’d be the first to purchase the items on sale when the mall opens the next day? Or why every Black Friday, there are reported cases of fights between customers over an item? Considering the answers to these questions, most likely would help boost the sales of any company.
Over the years, there have been studies that showed reasons why people are drawn to buy items that are placed on sale.
One of the reasons is the fact that people can’t just miss out on a great bargain. Most of the malls or department stores use the “buy one take one” method or the “add-ons” method. Most of us are already familiar with the first method, which have been considered as one of the best marketing strategy known to man. On the other hand, experts believed that the second method had only been developed about two decades or so ago. This method entails items enclosed in a package deal which is considerably lower in price as compared to that when you buy the items separately. An example of this is when one wants to set up his own home theatre. Instead of buying the monitor, speakers and projector separately, now brands offer them in a package deal.
Secondly, that feeling of jealousy coupled with envy. Although a lot would not admit it, people still get the feeling of jealousy or envy every time they see a new gadget of their officemates, friends and even with other members of the family. And once they see that same item on sale, they would instantly buy such, so they could be part of the “in” crowd again.
Another reason is that it is the latest product. People get such urgency after seeing the ads from magazines and television. However, the best advertising method is what certain brands do – let their products be modelled or used by some Hollywood A-listers and other famous people. According to experts, an urge to buy these products builds up every time they see the ads even if it is beyond their budget. When some of these famous brands go on sale, expect the hundreds of people marching towards the shop doors.
Lastly, it would be the want of people to own expensive things at a lower price. For example, gadgets. Over the years, people have been raving about tablets, smart phones and game capsules. Usually, purchasing one of these things would cut down your household’s budget at a few hundred bucks. However, when the brand itself go on a sale, the price goes down radically. This is the same reason why once the gadget brand announces a sale, people line up in front of its store for hours, the line going far as a couple of blocks away from the store. A few years ago, there were even reports of people camping outside stores just to be the first to enter the store when it opens the next day.
Bargain has always been a part of the marketing strategies by almost all of the famous brands worldwide. Although the product prices go down, still the companies are able to gain more since more of their items are purchased.