By now, you’ve probably seen the ads for all the big sales starting up with Black Friday, then on to Cyber Monday and continuing throughout the rest of the holiday shopping season. The retailers love to make you think that you’re in for some great doorbuster sales and huge savings. This is certainly true to some degree; however, don’t take pity on the big box stores just yet. If you think for a minute that they are the losers in this game and that deep discounts are going to hurt their bottom line, think again.
The truth is, they are really the big winners of this whole holiday shopping season, more so than shoppers themselves.
A little psychology goes a long way
Yes, it’s true, you did hear the commercial correctly. That 70-inch flat screen television is really $500 less than it would be any other time of the year, and you’re excited. Of course, there’s a catch. The fine print says something like, “good for the first five customers through the door” or “while supplies last” and the backroom only has a handful of TVs on the shelf. On the surface, it seems like the retailer just lost $500 for each of the few TVs they had in stock. However, they are going to quickly make it up.
They just lured you into the store and now you’re going to go shopping. Even if you didn’t have plans of making any other purchase, they’re going to convince you to. You’re going to start browsing, see all the beautiful signage, think of all the money you are supposedly saving, and the next thing you know your cart will be overflowing. Remember, although a few items may be drastically reduced in price, most merchandise is marked exactly as it is any other time of the year. The retailer has hooked and reeled you in right before your very eyes.
Other little secrets they don’t tell you
You know the saying: if it seems too good to be true, it probably is. That really sums up holiday shopping really well. Again, there are some good deals to be had, but when it comes to those products that are priced out of this world, there’s a reason for that. It’s usually an item that either isn’t selling well, is plagued with problems or doesn’t live up to the hype. The allure of snatching up an unbelievable deal might be more of a headache than it’s worth in the long run.
Many holiday season special priced items don’t come with the same return policy as items bought the rest of the year. In fact, some of the bigger sale items might be an “all sales final” or have a very limited window for returns. Make sure you know what you’re getting into. Nonetheless, always give a gift receipt when the purchase is for someone else.
The other way you’re helping the retailers win this holiday shopping season is because it’s the end of the year. In many industries, the stores need to shed the 2018 merchandise to make room for the new 2019 models. Everything from clothing to toys, household goods to sporting equipment has a shelf life at retail stores across the country. If the item can’t sell, the retailer has to donate the goods, destroy them or put them in discount stores. When you purchase these items, even at a significant discount, the retailers still make a handsome profit and you just helped empty their shelves.
Kendrick Shope is an international sales expert, the CEO & creator of the Authentic Selling® process and was named the top sales expert to follow by Twitter in 2015 & 2016. https://kendrickshope.com/