Businesses often find themselves in a situation where they have to sell their products at a discount. For example, when you want to get rid of Dead Stock Thai products, When you want to slow down sales, When you buy more stocks than usual, These are the times when you want to get more market than your competitors.
However, you may find yourself in a situation where you are selling your product at a discount but not selling it. So, only by considering the situation and making changes can the business run smoothly. This time, I would like to share the possibilities of the question of why it is not for sale at a discount.
1. Price of Substitutes.
Probably a factor as to why they’re doing so poorly. Substitutes A product is a product that has a completely different design and nature, but the purpose is the same. For example, soap bar and soap oil have different natural properties but the same purpose for cleaning. So even if you sell your product at a discount when the cost of replacement products is very low, sales will not be as high as expected. For example, let’s say you run a breakfast restaurant.
Although the nature of the product is not the same as the product itself, the purpose of the breakfast is the same, so fried rice consumers often substitute the bread for breakfast. Under normal circumstances, if you sell the noodles at half price, you will lose sales for your restaurant. In this case, you are only trying to improve your product rather than discount it. customer retention. It is better to wait for the time when people will get used to the other product and use it in one way or another.
2. Price of Complements.
Even if the prices of affiliate products are high, selling your product at a discount may not work. Complement Products are other products that you must use in conjunction with your product. For example, if you run a DVD store, DVDs can only be used with a DVD player, so a DVD player and a CD player are compatible. As a result, DVD players are in short supply and prices are falling, so your DVD sales may fall.
In the current situation, for example, the rise in petrol prices has led to a drop in demand for petrol-powered cars in petrol-powered cars. At a time when prices are so high, it may not be very effective to sell your product at a discounted price, and if you do want to sell at a discount, you can only sell at a very attractive percentage.
3. Consumer Income.
If your customers’ income goes down, you may not be able to sell at a discount. What kind of customers is your business targeting? You need to have a good understanding of your customers, such as who is the main sponsor of your business. Customers also need to know what the average income is and when they spend the most.
In a rural town, for example, when agriculture is plentiful, everyone spends more money when the crops are harvested. At times like these, new products are often prepared and sold. In a fishing area, most sailors can spend less money before leaving the boat, and when the boat comes back, they bring a small amount of money with interest. If you sell at a discount when it is not your customer’s cash flow, you may not be able to increase your sales.
4. Tastes and Preferences.
Even when people’s tastes change, your product may sell out, even though it may be cheaper. For example, the taste of food in Myanmar has changed significantly in the last five years. For the past five years, consumers have been enjoying the taste of Mala Shan. Hot! You will find that people are enjoying more and more flavors such as barbecue.
Cars, for example, used to be popular with all types of car segments, but now the compact SUV or crossover SUV has become more popular. The height of the car. Convenient to travel far in the city. Many new crossover SUVs are emerging as more and more popular models are introduced. If these consumers do not respond to the changing tastes of their customers, the sale will be ineffective.
5. Price Expectations.
When gold prices fall, most people wait for the cheapest time before buying, thinking it could fall even further. In the same way, when the price of gold goes up, people buy in the hope that it will go up even more in the future. This is due to price expectations.
For example, with the recent announcement that new car import licenses have been suspended, car prices have risen by hundreds of thousands in just one hour overnight. This is because of the price speculation that existing cars will go up in price if new cars do not arrive.
Therefore, even if customers have a price expectation that their product will be cheaper in the future, the current discount may not be effective. These are just some of the goal setting shareware that you can use. If you can find them and take action, you will increase your sales. Adequate knowledge can easily overcome serious difficulties.
Thanks for reading us! See ya, Next Days! Bye for now!
