Improve Price Perception
by DW Green — July 29, 2010
“Back-to-school” is just around the corner, and the back-to-school season, like all seasonal events or activities, offers an excellent opportunity for retailers to improve or reinforce their price perception. Typically, manufacturers offer discounts on seasonal items. It is a good idea for retailers to go one step further and augment manufacturer allowances with their own temporary price reductions, on items which consumers generally do not purchase often or purchase more of when the school season begins.
Shelf talkers announcing reduced prices at point of purchase—on items that are being purchased for the first time or in larger-than-normal quantities—convey a positive value perception with consumers. A customer may think, ‘I haven’t bought sandwich bags for months, and they’re on sale today… Wow! This store is great!’
Reduce prices on items like box raisins, plastic food containers, bagels, caramel dip, string cheese, water bottles, mini carrots, aseptic juices and beverages, Fruit Roll-Ups, cereals, snacks, sandwich bags, lunch bags, plastic wraps, popcorn and on and on.
Consider a special back-to-school themed T.P.R. tag design.
Aside from pricing opportunities, consider brainstorming back-to-school activities and events that honor kids and parents. Back-to-school is a big deal for families with school-aged children.
Filed Under: Company News