Cerdá products Tips and Advice Newsletteren

Pricing strategies for sales

18 December 2023 / per Cerdá Group

December is coming to an end and very soon the carols will stop playing in your shop and the sales season will begin. So now is the time to get ready and offer your customers the best prices.

    1. Top 7 best pricing strategies for sales
    2. Prices are not everything
    3. Signage: your great ally
    4. SuperMoments Retail Lab Academy

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1.Top 7 best pricing strategies for sales

At Cerdá Group we want your shop to be ready for the big day, that's why we are going to give you 7 pricing strategies that will help you boost your sales:
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  1. Psychological pricing🧠Prices that end in 9 (such as €19.99 instead of €20) are known as psychological pricing. Studies have shown that these prices tend to be more attractive to consumers. The perception that the price is lower can influence the purchase decision, even if the actual difference is minimal. This approach tends to work well for products where a sense of bargain or discount is sought.

  2. Price comparison 🏷️Al highlighting the difference between the original price and the discounted price clearly shows the value of the discount. Phrases such as "Save 50%" or "30% off" make customers perceive the savings they are getting when they shop during the sale.

  3. Bundle pricing🪙 Offering discounts when purchasing multiple products together can incentivise customers to spend more. This approach can increase the perceived value of the purchase and encourage customers to purchase more items, especially if the bundle discount is significant.

  4. Minimum price guarantee ⬇️ With a minimum price guarantee, you show confidence in your price and the quality of your product. This can be a decisive factor for customers comparing prices between different shops.

    You may be interested in:
    8 ideas for decorating your shop window in the sales

  5. Temporary sales or "flash sales"⏳ are a great strategy to create a sense of urgency and increase sales in a short period of time. These sales are usually short, ranging from a few hours to one or two days, and offer significant discounts on selected products or across the entire shop. The key here is to generate a sense of scarcity and urgency, which motivates customers to act quickly to take advantage of the offer before it ends.

  6. Additional loyalty discounts💗 Rewarding regular customers with VIP discounts that offer lower prices is a good way to reward customer loyalty.

  7. Take 3 and pay two📣 The "3x2" strategy is a fairly common pricing and promotional tactic in the retail world and refers to the "buy 3 and pay 2" or "take 3 and pay only 2" offer. Essentially, it involves the customer buying three units of a product and only paying the equivalent of the price of two, thus getting one unit for free.

2. Prices are not everything

Selling in sales is more than just about prices. Knowing your shop is key: identifying the hot and cold spots is fundamental to place offers strategically. In this video from our SuperMoments Retail Lab, Sandra Ruiz (Deputy Director of SuperMoments) shows you how to make the most of the space in your shop. Discover how to boost your sales with a smart layout ⬇️

- By spotting hot spots (high traffic locations), you can strategically place discounted products to increase the chances that they will be seen and purchased by more customers.

- Cold spots (places with less traffic) can be revitalised by placing attractive offers or products in these areas to attract customers and improve the distribution of traffic throughout the shop during the sales.

I want to know how to detect hot and cold spots

Knowing and managing these points during the sales can make a big difference in the effectiveness of your promotions, customer satisfaction and efficient inventory management, which translates into overall sales success during that period.

3. Signage: your great ally

In-store signage is essential during the sales period for several reasons:

  • Communication of discounts: Signage provides clear and visible information about discounts and offers available during sales, helping to attract customers' attention and quickly communicate ongoing promotions.

  • Highlight discounted products: Signage helps to highlight specific products that are on sale, making it easier for customers to quickly identify which items are discounted.

  • In-store guidance: Strategically placed signage can guide customers to areas where discounted products are located, optimising the shopping experience and avoiding confusion about the location of discounts.

  • Organisation of space: Signage can visually segment the shop, clearly dividing the sale sections from the regular sections, making it easier to navigate and search for deals.

  • Visual impact: Eye-catching, well-designed signage can attract customers' attention, even from afar, increasing the likelihood that they will come in to explore the offers.
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In short, the right signage during the sales is an essential tool for communicating, directing, creating atmosphere, generating interest and increasing the effectiveness of marketing strategies during this key promotional period. That's why we at Cerdá Group have put together these sale posters to inspire you to create your own.


4. SuperMoments Retail Lab Academy

We hope that the pricing strategies we have shown you and all the tips for the sales will help you. Sales are an intense competition, so creativity and authenticity in your sales strategies can make the difference. Remember that from our SuperMoments RetailLab Academy you can learn more about this topic and many more. The trainings, implementations and graphic material of our collections are waiting for you in our Google Classroom. Are you in?

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