Every week we get a handful of retail advertising fliers in the mail. Every week it seems the sames stores are offering the “lowest prices of the season.”
How can you keep offering the lowest prices of the season every week? Either your prices will rapidly approach zero dollars or you’ve got a crazy scheme for identifying seasons.
So what is wrong with this approach?
You’re setting the expectation with customers that prices will always be a little better next week. So why should they go buy from you today?
You start to lose credibility when “sales” don’t really match the hype you’ve placed around them. Can I believe your claim this week if you said the same thing last week and told me I’d never hear it again?
Aside from undermining trust in your advertising and marketing claims, gimmicks like “lowest prices of the season” turn the focus away from the true value of your product and hinge everything on the lowest-price-wins-all mentality.
Newlin’s Shopportunity talked about focusing on value instead of price. You’ll never be able to win on price alone since someone can always undercut you. The true value, in terms of benefits, of your product should be your unique advantage.