Black Friday for Retailers
Next Friday, Thursday in some places, the Christmas shopping rush is on. The retail stores call it black friday because this is typically the day, after working all year, that their stores are finally making a profit on the year. That is if the crowds arrive.
Much of the business that retail and mall stores have had in the past is moving online. People just don’t want to fight the crowds when UPS or Fed Ex can deliver their packages right to their door.
Last year as we were standing in line, I watched the crowds, this retailer had amazing marketing skills. The line ran past many lower ticket items that would appeal to those in line for the main product. The baskets were filling up nicely with all of the accessories and related items.
Online retailers know this trick as well. Get people in the door, build their excitement and offer them a product that appears to meet their needs. If this is too expensive or offers more than the customer wants, give them a smaller package that still seems to meet their needs and at a lower product price. This is called the downsell. Once on the hook people are more apt to buy an upsell later. This often feels wrong to the customer.
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