Reasons a product would go on sale:
* Changing packaging design and want to purge old design
* Overproduction occurred that would result in the product expiring before it can be shipped out/sold (same thing for over-ordering)
* Time of year averages indicate that the time period would otherwise be low in sales
* Coincides with special event
* New related product launch (think yearly phone releases)
Feel free to contribute to this list (it's for a future post on the personal blog)
@brandon Reasons people think a product is on sale:
* Wow I'm so lucky!
* I am such a deal finder.
Company/seller is failing in that product business and want to sell what they can so they have some return in investment, happened to my father - bad investment.
@nikolal Wow didn't even think of this one!
* Market penetration. Sales lead to an increase of product being dispersed into a population, giving it a wider audience.
Reasons for sales (temp lower prices)
@ndegruchy Great one! I've seen a lot of that kind of marketing but I'm wondering how a sale for a brand new product would work if it previously didn't have a price. Maybe pre-orders? I guess you could say that's a kind of sale
@ninja I'd include that in the "time of year thing" for the majority of them, but it would make a good point to talk about being beholden to arbitrary sales numbers
@brandon Also loss leaders in order to incite shark frenzy.
@hrthu loss leaders?
@brandon Also simply the power of the idea of a sale. I've seen things on sale for $14.99, only to peek behind it and see the regular price: $15.00.
@hrthu so either a "package deal" or enticing others with sales on product A to attract people to the store and say "well you might as well buy these glade refills if you're gonna buy the glade air freshener pod"
@brandon There are both. But the latter is more what I had in mind. Think about black friday. It's profitable because are lurred in by whatever, they go insane in a frenzy of consumerism.
Also, add to your list simple brand loyalty building.
@hrthu I've never really liked Black Friday
It's literally "Capitalism Day" if there were such a thing. That and Prime Day
@brandon And another: with big data, some sales are simply data gathering expeditions.
@hrthu That's a good one! Didn't think of it, but I can see that happening, and I think it's already a thing
@brandon It was mentioned in a book I read... although I forget which. Perhaps Weapons of Math Destruction.
@hrthu Well I saw it with Experian's latest data grab to help increase your FICO credit score
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