Posted in Marketing and Strategy Terms, Total Reads: 424
Definition: Sales Sample
For discarding excess merchandise often sample sales is used by the retailers. Often used by the agencies to sell products that they will further be distribution of the local vendors. It is mainly associated with the fashion industry. It helps the customer to get the near perfect merchandise at fraction of the actual price. Present day sample are a method to get rid of the stock of previous season, returned, Overstocked and never sold items. Previously sale samples were for promotion for advanced showings to interested fashion conscious people, which led to rush as it was limited in quantity and sizes. Many times the sale is conducted within less time duration in order to gain publicity.
• Date and time is very important, as the stock gets over very soon.
• In order to take the full advantage it’s better to prepare for the sales.
• Know which designer suits your style, size and budget.
• As the sale is final purchase thus it should be carefully done.
• In order to avoid any problems, the product should be checked properly for any defects before purchase.
Brand awareness will increase as people will be referring to each other. Thus new customers will be attracted to check out the products and eventually become the customers of the company.
Conversion rate will increase as the price is low and people giving trial will be more inclined in buying the product. Thus people will be more inclined in purchasing more items due to the lowered prices.
Traffic to the shop will increase as now more people can afford the product.
Reputation in the industry will also increase and competitors will feel threatened due to the increased sales of the company.
Inventory holding cost will reduce, as the old stock will be sold and new stock can be reloaded in that place.