We talk about physical retailing at length these days because the choices of shopping have increased manifolds with the origin of the eCommerce networking. The online options have come up to the expectations of the customers and they have finally found a comfort zone with online shopping. Thus an era of marketing war has set in between physical shopping and online shopping. We may go on and on with the advantages and comfort level of online shopping. But still physical shopping has been in existence since long and still remains a favorite among a big chunk of consumers.
The need of the hour is to get creative with physical retail marketing and physical retail prices. It is like capturing the same image with different angles. Hence the result is always different. Same is the case here. Retail shopping with different approaches can give a rise in the profit levels which is the final aim of every business activity.
- The bulk and wholesale dealers are in close connection with the retailer. This angle in missing in the eCommerce set up because the overhead costs are missing in this. The physical retail price can be influenced when the retailer is ready to sacrifice with the mark up. This can generate the physical retail sale by keeping the physical retail price lower than the normal price. This acts as a catalyst to attract the consumers.
- The customers always react when they get to know that the retail price is at an all time low. This is a tried and tested formula.
- Another way to get creative with the physical retail price is by attaching it with a free gift which will generate the interest of the customer. Giving free talk time with the sale of merchandise is a good example.
- Even the multi brand discount stores; have to work out for some creative ways to generate the retail pricing. Attach some online activity like a website of the store which will help in creating awareness of the product.
- Advertising is another important tool. Even social media marketing for physical retail pricing can play an instrumental role in this format.
- To launch a brand new pricing, take a celebrity for the campaign and the sale can show an upward trend.
These are a few creative ways to reach the consumers with physical retail prices.