BOGO Black Friday Sale Poll - How would you handle this transaction? 1 1

[Real Frantic One]

On 11/24/2023 at 11:02 PM, stormflora said:

Yeah... Not sure why this was so hard for OP. It almost sounds like the $3 book was more valuable than the $50 book, and OP couldn't afford to miss out on both.

The $50 / $3 scenario in the poll is purely hypothetical. It’s just to determine how someone would handle that situation.

[Ryan.]

On 11/24/2023 at 11:38 PM, s-man said:

I am guessing that the sale does not include any big keys?  Can't imagine buying a Hulk 181 and getting a GSXM for free.

In my experience, whenever a LCS has one of their big holiday sales, those big wall books are magically out of stock during the sale.

[Ryan.]

On 11/25/2023 at 12:51 AM, Real Frantic One said:

The $50 / $3 scenario in the poll is purely hypothetical. It’s just to determine how someone would handle that situation.

 As soon as I saw the details of the poll I knew you would be shamed.

[Dr. Balls]

BOGO on variable-priced items is a huge headache, and leaves you open to losing out big time on certain books (as someone already pointed out with H181 and GSXM. Progressive discounting is the best way to promote spending, IMHO - especially if you have a maximum discount in mind, and you can use this method to protect your inventory.

Buy $50, get $5 free (10%). In this case, you pay $50 and get a free $3 book+.

Buy $100, get $20 free (20%) In this case, you'd pay $100 and get two $3 books+

Buy $200, get $80 free (40%) - and tier it upwards to promote bigger buys. I.e., $300/$120 free, etc. In this case, buyer feels like they got a deal, store moves product at a smaller margin. Win/Win

As mentioned above with IH181/GSXM, if they were both $2500, you'd have to buy one and get the other for $1500 in the tiered discount scenario - a discount for sure, but still making revenue on it. In the BOGO scenario, you're out a full $2500.

The customer isn't left standing there trying to figure out how to make his BOGO work, and the store doesn't have to take any combative stands - all the while promoting multiple purchases and leaving the customer feeling like they got some free books.

Edited November 25, 2023 by Dr. Balls

[wombat]

Would it just be easier to offer 50% off instead of BOGO? In the two $50 book scenario you would still pay $50 and get two books. Seems like it would be easier to manage for everyone. 

[s-man]

On 11/25/2023 at 11:32 AM, wombat said:

Would it just be easier to offer 50% off instead of BOGO? In the two $50 book scenario you would still pay $50 and get two books. Seems like it would be easier to manage for everyone. 

Seems like you do a BOGO sale to get rid of excess inventory more than anything.