“Why do we fear pricing products?” This is the one of many questions that came up recently. Here is some background: That ring belonged on my finger. I am at a local crafts and organic foodstuff fair in Lahore with a friend when this sparkly jewellery catches my eye. There are a couple of people milling about behind the counter, but no price on the ring. “Price Kidher Hai?” – “Where’s the price?” I ask in that general direction. It’s a very busy stall, lots of potential buyers asking, tugging, expecting the wares – so it’s no surprise I don’t hear back until my interest is lost and I remember having a similar ring back home. As we drift away towards the home-made cupcakes stand, the jewellery seller calls out ” Rs. 850 or your best offer!”. SIGH! This was all too little
and too late!
Here, for the benefit for all future and past merchants, cardinal rules for selling at a fair:
Rule #1: Please, oh, please don’t make ask you!
As a casual consumer strolling through a pop-up shop, I am here to enjoy myself. Make it easy for me to purchase your product or services. Please, oh, please don’t make me ask you! That is such a chore and I am fearing a whole haggling situation, oftentimes I’d rather check out another shop/stall than struggle to get your attention.
Have a set price written clearly. The final price. No haggling. This is not a street side bazaar.
Rule #3: Win the Wallet
“Win the Wallet” by lumping together the best-sellers with the slow-moving items – Offer ‘Buy 2 and Get 1 free’ on your mini-notebooks crafted from hand-pressed paper. Use Social Networks for your advantage AND offer a juicy discount to new customers- ” Refer our Facebook page to 10 friends and Check-in on Facebook – Get 20% on your current purchase”
Rule#4: Show Me What’s Special
When you have a unique or lesser-known product, you must educate the consumer. MUST. Record a small demo video with your cell phone and play it on a laptop at the stall on loop. Announce live demos every hour at the fair and make sure to include people who are watching in the demonstration. If you want me to buy the latest innovation in organic honey – garlic-flavored- give me a taste!
Tell me what you think – Have you ever been frustrated by the lack of preparation by sellers at local fairs?