With the Labor Day weekend coming to a close , we can look in the rearview and see how the retailers did at pushing their merchandise out the door.
With a few exceptions, this Labor Day was below average , but didn't have the marked drop in sales some had forecasted with the sour news about the economy.
Looking back on the retailers that didn't do as well we can see a very familiar pattern emerging . Usually these businesses had "too much" for the consumer to decide on, with multiple deals in multiple categories. Those that did well had 1 or very few pieces of merchandise that were on a huge deal. So what's to learn besides where to find the latest discount computer equipment?
I believe the biggest lesson learned is what major retailers do to force a purchase decision; they reduce the numbers of choices you have.
When you have to choose between 50 products that are about the same with a comparable price point, the purchase decision is overwhelming. More than likely you'll go ask a friend if they have used one of these products, and then you'll purchase the one they trust.
But during these "sales events" the best retailers give you as little choice as possible . They may still have the variety of 50 products that are generally the same, but one is such a better value that there is no choice at all once the decision to buy has been made.
So...are discounts to your benefit? Only if you were going to buy the product in the first place! Do you really want those discount computer parts, or is the packaging getting the best of you?
Through this same strategy , adding solid in-store marketing, many times retailers are able to convince you to make a purchase decision when little to no want truly exists. You are there, and its "such a great deal" that you "can't pass it up".
You feel good at the register, you've bought your new product at a great price, but then you get home. You open your new product and have to figure out how it will fit into your life. Do I really have room for it, will it take maintenance, do I want to accessorize it? Now that I've got a new discount computer, do I want to upgrade it with discount computer hardware?
Sometimes it doesn't fit in your life and you get to go through the return lines after one of these big holiday buying sprees . More buying fun.
So what's to learn? Only buy it if you really want it! Marketing will mold your mind if you are not careful; and price is never a sole reason to buy a product unless you like to throw your money and time away!
