Higher prices in liquidation sale
Recently on the radio there was a story where someone was closing their store and liquidating the inventory. The interesting comment to me was that people were paying more during the liquidation sale than they were before they announced the liquidation.
There are probably several factors involved that convinced people to buy, and figuring out how to emulate those can be benficial:
There are probably several factors involved that convinced people to buy, and figuring out how to emulate those can be benficial:
- A sense of urgency. In a liquidation sale it is clearly a limited quantity, that when it's gone, it's gone.
- Presumption of value. Many people may assume they are getting a great deal, if there is a sale on and the store couldn't make money at the regular price. The customer may have left feeling like they got it at a steal.
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