Here’s two retail related photos I took in Cape Town during February. The one above, from inside the huge Woolworths chain clothing department, full of your daily staples. The one below, in a Jet mass market fashion chain store. (click on them to enlarge)
Notice the banners.
Last Of The Best Sellers & Last Of The Best
Now, I’ve been in plenty of shops in my time. Haven’t we all. And in the past year I’ve shopped in retail meccas such as London, New York and Dubai.
Yet I have never before seen signs such as these.
Especially when, a few metres away across the floor, there are separate Sale racks choc-a-block too.
None of the items on the “Last…” racks were reduced. Yet there were single, lonely items. Just like on the Sale hangers.
So here they were, selling odd items, but not at any discount.
I loved this concept. I would like to have altered the phrase a touch perhaps.
Last of the Fast Sellers
Whatever, this is surely something that could be adapted in the b2b world.
You sell services, and have precious resource committed to a particular project soon? Then send all other clients a message that now’s the time to book a popular service before it disappears for a while.
You sell technology, then offer those predisposed to adopt late, the chance to take something before the super-session gobbles up the tried and tested.
If people are told that something is a fast seller (and by the way, it must be genuinely so of course) then that famed sheep mentally may well help remind a few customers to buy up before it goes for forever.
Why must we always be in such a hurry to discount? There are clearly other ways of inducing action from a prospect without slashing your margins.