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Unconventional ways to increase sales in the online store

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Unconventional ways to increase sales in the online store
As always I have an unconventional approach to dealing with situations like this, so I went from afar and yesterday started reading a rather interesting book on practical psychology authored by Chaldini R. The book is called The Psychology of Influence.
In spite of the fact that this book is devoted to the application of knowledge about the psychology of human behavior in society, a great many points in it also reflect the relationship that arises between the seller and the buyer. Albeit in a somewhat unusual form.
Already on the first pages my attention was drawn to the article, which gives examples of successful and effective management of customers and their buying behavior, albeit in a slightly unconventional way. The book is addictive, so before I forget, I tell you more. To make the point of the post clear, I first suggest reading two short stories from the author.
My neighbor, a jeweler who owns an antique jewelry and jewelry store, once told me how he had experienced firsthand the "expensive = good" stereotype. A friend of his was looking for a wedding gift for his bride. The jeweler just happened to have a beautiful $500 necklace that he was willing to give to his friend for $250. As soon as
friend saw the necklace, he became enthralled and wished to purchase it. But when he learned that the necklace cost $250, he immediately became sad and began to confusedly refuse, explaining that he was looking for "something really worthwhile" for his bride.
The next day, the jeweler finally figured out what was going on. He called a friend and told him that a new necklace had arrived at the store, similar to the old one, but much better. This time he put the same price – $500. My friend came in, saw the necklace, and found the price acceptable. He was about to pay when the jeweler told him he was cutting the price in half as a
as a wedding gift. Buddy couldn’t find the words for his joy. He bought the necklace for $250 and felt not disappointed or hurt, but happy.

One day I got a call from a friend who had recently opened an Indian jewelry store in Arizona. She was dizzy with curious news. Something startling had just happened in her life, and she thought I, as a psychologist, could explain a lot to her. It was about a batch of turquoise jewelry that she was having trouble selling. It was peak tourist season, the store was constantly full of customers, the turquoise pieces were of good quality for the price she was asking; yet somehow those pieces were not selling well. My friend tried a couple of standard sales tricks to remedy the situation. She tried to draw attention to the items in question by moving the display case toward the center of the store, but she failed. Then she told the clerks to push hard to "push" the items, again to no avail.
At last, the evening before she was to leave on her business trip out of town, my friend hurriedly scribbled an angry note to her head clerk: "x 1/2 price on all turquoise", hoping simply to get rid of the already disgusting items, even at a loss. When she returned a few days later, she was not surprised to find that all the turquoise items had been sold. She was astonished, however, to find that because her clerk had read "2" instead of "1/2, " the entire lot had been sold for twice as much!

The author proposes to dissect the psychological behavior of buyers in these situations. Note that in both stories the buyer, who wanted to buy a good product, ignored the cheaper offers. It seems clear and understandable – cheaper means more profitable. Why the opposite happened? Logically, we can assume that the stereotype "expensive = good" has a flip side: "cheap = bad. By the way, in English the adjective cheap means not only "inexpensive", but also "inferior", "of poor quality".
Let’s consider the strange behavior of those jewelry buyers who swooped in on a batch of turquoise items only after they were mistakenly offered at twice the original price.
In our case, the buyers, for the most part wealthy vacationers and vacationers with poor knowledge of turquoise, were guided by the standard principle and stereotype : "expensive = good". Numerous studies show that people who are not confident in the quality of goods often use this stereotype. Buyers who demanded "good" jewelry seemed to value and desire turquoise jewelry more expensive. Thus, price has become a trait that acts as a trigger in determining the quality of a product; the eye-catching price increases alone have led to a dramatic increase in sales to eager customers for high quality products.
A classic example in this situation is the phenomenon of Chivas Scotch Whiskey. Sales of Chivas Scotch Whiskey increased dramatically after the product was priced substantially higher than competing brands. Characteristically, the product itself has not changed at all. The same no less striking example is Hennesy and Otard. In terms of taste and nutritional composition these alcoholic beverages are in the same product category. Competent advertising, focus on wealthy customers and, most importantly, the cost, and based on it the final price, bring these products into the category of premium products, which increases the consumer demand for them by potential buyers.
Let us return, however, to our customers. A closer look at the situation provides an objective explanation. The buyers were people who had been raised on the rule "you get what you pay for, " and who had seen this rule confirmed many times in their lives. They soon modified that rule into the statement "expensive = good." The "expensive = good" stereotype had worked quite effectively for them in the past because, as a norm, the market price of a good increases as its value increases; a higher price usually corresponds to a higher quality. It is not surprising, therefore, that without much knowledge of jewelry, buyers have determined the worthiness of jewelry by its value.
Turquoise buyers, unknowingly, have staked their claim on stereotypical thinking. Instead of thinking hard and taking the time to identify signs that might show the true value of the turquoise product, they took the shortcut and focused on its price as the only criterion for the quality of the product. Buyers bet that the price adequately matched the value and quality of the product, and this information was enough to make their decision and push them to make a purchase.
This method of sales increase can be rightfully called non-standard and opposite to the traditional lowering of prices and carrying out all sorts of actions and sales. I pay your attention to the specifics of using this method for internet stores. Do not forget that this method is not suitable for all categories of goods sold. For example, this method in the online store will be difficult to sell the refrigerator or cell phone. The prices for these products are set by the manufacturers themselves and it would be senseless and silly to change it for a higher price. On the Hand-made, jewelry, handicrafts and other "exclusive" products, I think it is possible to successfully test this method of increasing sales. Prices for these products are entirely in your hands, about them little is known, and come up with a qualitative description and history of creating similar products, I think it is not difficult for you.
This material will be useful for owners of online stores, because the psychology of buying behavior in an online store is similar to buying behavior in real stores.
What do you think about it?

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