Bargain Countdowns – A Genius Idea or Trickery?
We cannot help it. As customers, we love to believe that we are getting a great deal when we are shopping. But, are we really getting a good deal?
Retailers know that customers have a weakness for bargain countdowns on sales items, deal of the days, and two-for-one offers. These offers have a time limit to make the customers believe that if they do not get the deal before time runs down, they will miss out.
And like fools, we fall for it.
Bargain Countdowns Generate Profit For Retailers
Whilst we are running riot, adding more sale items to our carts and whipping out our credit cards to get these deals, the retailers are making profit out of our sense of urgency. What is even more ironic is that half of the sale items are old stock. Food items will have a fast-approaching use-by date, clothes stores will put bargain countdowns on last season’s stock and electronic shops will sell technology of an older quality. In simple terms, they are making money out of items which are not of the best quality.
How long will it be of customers pushing each other out of the way to grab that sacred sale item on Black Friday? How long will we rack through rails, and elbow each other of the way like animals? Seriously people, we have to gain some dignity here!
Whilst we spend money we probably do not have, retailers are enjoying putting our coins into their piggy banks.
Bargain Countdowns – Genius Idea for Retailers
Bargain countdowns define trickery. But what a genius idea for retailers!
If they can fool customers into believing that the deals on their sale items are actually ending, they can generate massive profit. Plus, they can shift their out-of-date, out-of-season goods that they would have had trouble getting rid of, if they were sold at full price. Bargain countdowns on sale items also save storage space in retailers’ warehouses.
Many online businesses have benefited from bargain countdowns and deals of the day. From 2014, Groupon.com has become the most frequently visited coupon site in the United States. It boosts a whopping 30 million visitors per month and it holds 59.1% of North America’s daily deal market. Groupon.com perfectly portrays how bargain countdowns can generate a lot of money for an eCommerce company.
Are Bargain Countdowns Ever Going to End?
Customers are deluding themselves if they think that the bargain countdowns are really going to end. There is always going to be another sale, another bargain that we just have to have. Another few $100 bills down the drain.
And retailers love it!
An example of a website which specializes in bargain countdowns and deals of the day is Overstock.com: http://www.overstock.com