Q&A: “Can I offer a permanent price discount?”

Notes from Chris

Episode 1999

You’ve probably seen furniture stores or other businesses that are always having sales. They have so many sales that it seems like there’s never a time when there’s not a sale.

And of course, this is a strategy! They know it works. They know it brings people in.

Our listener is wondering: why can’t they do this in their business?

Is there any reason to not have a permanent sale or price discount? What are the upsides and downsides?

"I've noticed that whenever I put my products on sale, I sell more. Not surprising, right? But a recent holiday sale got me thinking. Is there anything wrong with having my whole online store on sale all the time? I realize that recurring customers might catch on quickly, but I have a lot of new visitors coming every day. If it just so happened that what they wanted was on sale when they visited, I bet conversion rates would be higher. So that's my question: is there any ethical or practical concern with having a semi-permanent or permanent sale?"

Listen to today's episode to learn more...

 

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SEE ALSO:

• ESL Teacher Resells Furniture for Big Profits: When a Missouri ESL teacher sells a couple of barstools on a whim, she begins a furniture flipping journey that leads to a full-time income.
• Floridian Finds Fair Value Flipping Furniture: A call center employee in central Florida finds that restoring furniture isn’t too hard with a bit of technique and finesse.
• Couple Turn Unwanted Furniture Into $1,000 Per Month: A couple in Ottawa learn to “upcycle” unused furniture, working extra hours whenever they want and getting paid for something they’d do for free.

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,