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How I hook buyers' minds: (Give them a reason to buy) Buyers need a reason to buy. A great product isn't always enough. When someone eyes an offer, they weigh if it's a 'now' thing or a 'maybe-later' thing. Given the choice, most folks prefer 'maybe-later.' Less work for them. But sprinkle in scarcity, and you've got their attention. They start thinking: Can they afford to wait? What might they lose if they do? So, if you want more sales, add a dash of scarcity. 🤑 How To Apply This In E-commerce, you can create time-limited offers. Quality-first brand Represent nails this. They partnered with artist Liam Gallagher and announced a one-hour sale on July 27, 2022. Buyers had to decide quickly or miss out. The tiny window drove HUGE sales. A caveat: Super short sales only work with pre-built hype and loyal fans. The tech industry loves numbers, so be transparent with them. Booking.com excels here. Rooms can run out. Not just a limitation — a motivator. They show how many rooms are left. The 'limited rooms' display (in red) drives quicker decisions. So go on now, sprinkle some scarcity to spur action. It's powerful. #scarcity

What would you do if you had to start fresh with only $100 and no network? Answer: I’d implement the same strategy that helped me thrive after hitting rock bottom. Here’s how I generated $18,000 in 30 days by flipping vintage items online: 1) I scoured local thrift stores and garage sales looking for undervalued vintage items. 2) I asked store owners how they determined the prices of their merchandise and what items had the most sentimental value. 3) I proposed to buy their undervalued items and resell them at a higher price without them having to invest any time or effort. 4) The deal was simple: I’d handle all the listings and sales online; they’d just get cash for items they typically wouldn’t sell. 5) “I’ll turn your clutter into cash—no work required” became my irresistible pitch. 6) I invested my $100 in a couple of sought-after pieces and created an attractive online shop using social media. 7) Each item brought in an average of $50, and I sold 4 out of 5 items listed within the first week. 8) I spent my initial $100 upfront and generated around $1,200 in first-week sales. 9) At the end of 30 days, I turned that $100 into $18,000 flipping vintage finds. Having experienced setbacks before, this isn’t just a theoretical concept. It's a proven method I used to redefine my journey. And this model is adaptable to anyone interested in resale or e-commerce. Find and leverage undervalued assets. Create simple listings. Rake in the profits based on your expertise. It’s a win-win for all involved!

Ever wondered why $19.99 feels *so much cheaper* than $20? Pricing isn’t just about numbers - it’s about perception. Odd pricing, like $19.99 instead of $20, taps into the psychology of how we process information. It’s called the left-digit effect. Shoppers focus on the first number they see, which makes $19.99 feel like it’s in the $19 range, not the $20 range . Odd prices also scream deal! 🥳 They’re often associated with discounts or bargains, appealing to budget-conscious consumers. This strategy works especially well in retail, where it’s designed to trigger impulse buying . But… this isn’t the whole story. Even pricing, like $20.00, conveys precision and quality. It’s common for luxury brands to stick with rounded prices to emphasize sophistication and trustworthiness 😎 So, which one should you use? That depends. 👉Want to increase volume and attract deal hunters? Go odd. 👉Selling a premium or luxury product? Stick with even prices. Your pricing strategy is more than just numbers - it’s part of your brand. Getting it right can be the difference between meh and sold out. 🤌🤌🤌

According to recent ticket resale data, World Series tickets have reached historic highs this year. The average resale price for a ticket currently sits at $1,413. This figure marks the second-highest average resale price for a World Series in history. The only year that surpassed this average was 2019, when the average price reached $1,541 […]

**Buyer beware** is a phrase derived from the Latin term "caveat emptor," which means that the buyer is responsible for checking the quality and suitability of goods before making a purchase. It implies that the buyer assumes the risk of any defects or issues with the product or service. **Definition:** "Buyer beware" is a warning that the buyer alone is responsible for ensuring that the product or service they are purchasing is as described and of satisfactory quality. It emphasizes the importance of conducting due diligence before making a purchase. **Example Dialogs:** 1. **Online Shopping:**   - Person A: "I found a really cheap laptop on this website."   - Person B: "Buyer beware! Make sure to read the reviews and check the return policy." 2. **Used Car Purchase:**   - Buyer: "This used car is being sold at a great price."   - Friend: "Buyer beware. You should get it inspected by a mechanic first." 3. **Real Estate:**   - Buyer: "This house seems perfect and it's under market value."   - Agent: "Buyer beware. Look into the neighborhood and any possible issues with the property." 4. **Antique Shopping:**   - Shopper: "This antique vase looks like a genuine artifact."   - Dealer: "Buyer beware. Make sure to verify its authenticity." 5. **Marketplace Deal:**   - Person A: "I’m buying a phone from someone on a marketplace app."   - Person B: "Buyer beware. Test the phone thoroughly before handing over the money." 6. **Travel Packages:**   - Traveler: "This vacation package is very affordable."   - Friend: "Buyer beware. Check what’s included and read the reviews." 7. **Investment Opportunity:**   - Investor: "I’m considering this high-return investment."   - Advisor: "Buyer beware. It could be a scam, so do your research." 8. **Auction:**   - Bidder: "I’m thinking of placing a bid on that artwork."   - Companion: "Buyer beware. Make sure it’s not a reproduction." 9. **Local Market:**   - Shopper: "The street vendor is selling branded shoes at a low price."   - Friend: "Buyer beware. They could be counterfeit." 10. **DIY Products:**   - Person A: "I bought a DIY kit from an unknown brand online."   - Person B: "Buyer beware. Verify the quality and instructions before starting." **Hashtags:** #BuyerBeware #CaveatEmptor #ConsumerAwareness #DueDiligence #OnlineShopping #UsedCarPurchase #RealEstate #AntiqueShopping #MarketplaceDeal #InvestmentRisk

𝙏𝙃𝙀 𝙇𝙄𝙋𝙎𝙏𝙄𝘾𝙆 𝙀𝙁𝙁𝙀𝘾𝙏 Lipstick effect suggests that during recession or economic downturn Consumer tends to cut the purchase of luxury items still indulge in buying small luxury items like lipstick. Psychologically it boosts self esteem and gives customers happiness in the purchase of small luxury items as large luxury items are out of reach. 𝘿𝙞𝙨𝙥𝙤𝙨𝙖𝙗𝙡𝙚 𝙞𝙣𝙘𝙤𝙢𝙚-Amount left after paying taxes. 𝘿𝙞𝙨𝙘𝙧𝙚𝙩𝙞𝙤𝙣𝙖𝙧𝙮 𝙞𝙣𝙘𝙤𝙢𝙚- Amount left after paying taxes and necessities. Economists monitor disposable income and discretionary income to understand how consumers save, spend, and borrow money.

https://lnkd.in/eNGMQkc5 Anyone hearing wedding bells? Signet Jewelers, and the engagement industry is seeing a comeback. There are signs the engagement industry is in recovery. While engagement "...shoppers appear to be more cautious with their buying decisions...Brilliant Earth {jewelers are} reporting higher average selling prices for engagement rings." Shoppers are cautious with their ring decisions, even while the ring prices, themselves, are up. "{Engagement shoppers are} still moving forward to engagement, which is what we've been waiting for and are excited about. It creates a three-year tailwind in our business." It usually takes about three years for a couple to meet, date, then move on to the engagement and marriage; that timeline was extended because during the pandemic couples couldn't meet and date as effectively as they had before. Even shares of stock in Signet, owners of Zales and Kay chains, are excited; their stock was down 10%, but they are seeing an upbeat outlook for Q3 2024. Love never seems to go out of style, and engagement rings are a wonderful expression of that style. Couples meet, date get engaged and then married, and during that process they are looking at rings and the fun side of the industry. Jewelry stocks are currently down, but the tailwind is showing that the outlook for the 2nd half of 2024 is up.

Buy cheap, you buy twice I used to work in retail, both in fashion and homewares, and there was always this expression bantered around in sales ‘if you buy cheap, you buy twice’ It was a way of justifying why you should drop £395 on a bed for little Octavia versus going and spending £150 on a high street flatpack bed. It often felt like a big jump in price point for customers. But the thing is it wasn’t just a sales pitch. These beds not only looked gorgeous, but they were robust enough and timeless in design to last until the kids they went off to uni (and beyond!) I actually met someone at an event a few weeks ago who was a customer of this children's furniture brand and she said that she still has her kids beds in the spare room 18 years later! I honestly don’t think she would have said the same thing about a high street flat pack bed. I still find myself saying it today espeically when prospects come back to us after going and trying out a cheaper solution. It’s not uncommon for us to get ghosted as a customer may they think they can go and find other providers for a fraction of the cost. Yep you can. BUT YOU WILL NOT GET THE SAME QUALITY Sorry for shouting, but I’ve lost count of the prospects that have come back to us because the quality of what they got for the cheaper option is rubbish. As one customer said to us yesterday: ‘I tried to get this done with another company, but they have mishandled it completely’ The frustrating thing for this customer is they are going to end up paying way more than if they went with us in the first place. So yes you can probably find a cheaper option, but will you end up buying twice? #business #eCommerce #PIM

"Stay safe while buying and selling online! Follow our top 5 transaction tips." Ready to buy or sell with confidence? Visit 👉 https://lnkd.in/gCU4FHeN and start your journey today!#BuySellEverything #OnlineSafety #TransactionTips #SecureDeals #SafeShopping #ECommerceSafety #OnlineMarketplace #ShopSmart #StaySafeOnline #DigitalTransactions #OnlineSellingTips #BuyingAndSelling #UAEDeals #SmartShopping #SafeOnlineTrading

#የዋጋአሰጣጥ(charming price) ስነ -ልቦናዊ ዋጋ #psychologyicalprice በመባልም የሚታወቀው የዋጋ አወጣጥ ስልት ሲሆን ብዙ ጊዜ በ9 እና 5 የሚያልቅ ቁጥሮችን የሚጠቀም የዋጋ አወጣጥ ስልት ሲሆን ይህም ዋጋዎች ዝቅተኛ እና ለተጠቃሚዎች ማራኪ እንዲሆኑ ለማድረግ ነው። Perceived Savings Charm pricing gives the impression of savings, even if the difference is only a few cents. For example, a product priced at $19.99 feels significantly cheaper than one priced at $20, even though the actual difference is only a penny. Left-Digit Bias Consumers tend to focus more on the leftmost digit when processing prices. So $19.99 is perceived as closer to $19 than $20. This left-digit bias makes charm prices feel lower. Affordability Perception Charm pricing conveys a sense of affordability. A price like $39 feels more affordable than $40. It places the product in a lower price range in the consumer's mind. Impulse Purchases Charm pricing works well for products bought on impulse. The specific price point appeals to the logical side of the brain and helps justify adding the item to the cart. Luxury Goods Exception Charm pricing is less effective for luxury goods. Consumers buying high-end products care more about the product's qualities than the price. Rounded prices may be preferred to maintain a premium image. Real-World Examples Many retailers use charm pricing, including Dollar Tree, The Dollar Store, 99 Cent Depot, and Amazon. Infomercials also frequently use charm pricing to encourage sales. In summary, charm pricing leverages psychological biases to make prices feel lower and more appealing. While it can boost sales, especially for impulse buys, it may not be suitable for all products and markets.