What is it?
The Themed Sale Effect occurs when a sales event is justified in some way by a theme – summer/winter/new season/old season/anniversary etc.
Why does it work?
It works for two reasons. Firstly because arbitrarily discounting can damage the perception of value for the buyer so it allows the seller to “justify” the discount and not be seen to be giving money away for nothing. Secondly, a themed discount often has time limits attached to it, thus harnessing The Scarcity Effect to drive a quicker buying decision.
How can you use it?
Depending on your offering, you can pick any number of “themes” for your sales which include but aren’t limited to:
- End of season
- Start of season
- Mid season
- Valentines day
- Black Friday
10 alternative ways to discount your offering:
- First purchase– Discount the first purchase a buyer makes with you.
- Follow up offer – Follow up those who didn’t buy with an incentive.
- Cashback – Don’t discount, but provide cash back to those who pay full price.
- Themed Sale – Create an event or reason to hold a sale.
- Price Match – Offer to match the genuine price of a competitor.
- Buy more – Incentivise buyers to spend more with ascending discounts.
- Free gift- Offer a free gift with purchase.
- Early bird – Offer a discount for those who buy/pay in advance.
- Flash Sale – Hold a flash sale
- Budget version -create a naturally cheaper version of your offering to appeal to lower spending buyers.