Hurry! Only X Left In Stock!
Customers are more likely to purchase goods if they are aware that the items sell out fast. If something on the website tells them that there are only so many items left in stock, they are more likely to buy the product then and there. This sense of urgency will not allow them to leave the website, nor let them buy another day.
So how can your online retail business benefit from this customer mentality?
All you have to do is add a message on your product page which says “Hurry! Only X Items Left!” close to the checkout cart button. If you are a Magento user, you will already be familiar with this layout format. It is also a good idea to add this message to category pages for an increased chance of sales. If your webpage is already displaying messages for free delivery, or one-day delivery promises then you can easily add the message highlighting lack of stock beneath it.
It is probably best you ensure that this in stock message only appears when the item numbers are less than a certain amount. If the in stock number is too large, the customer will definitely not fall into the same sense of urgency than they would if there was only a small number of stock left. For example, if the in stock message reads “Only 4000 items left” customers will relax at the amount of time they have to purchase the product. This will not generate any profit for your business.
The last thing you want is for your customers to think it over and leave the webpage. You want to ensure that they buy every time they visit your website. And the “Hurry! Only X Items Left!” message will be too tempting for them to refuse. Fear strikes customers when they think that they might not be able to get the product they like. Because it might not be in stock. Take advantage of their weakness with this message. Make them rush for their credit cards and spend on your website!
If you would like to find out more about customer mentality and sales strategies, visit: http://erply.com/retail-pricing-strategy/