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How to show the price: nine important rules
20.05.2014 10581

How to show the price: nine important rules

What size should the price tags be? Should the cost of the product be shown in the storefront? Why some POS-materials don't work? Marina Polkovnikova, expert in the field of visual merchandising of fashion stores and owner of the agency, answers these and other questions about price positioning in merchandising. VM-fromonsulting.

 Marina Polkovnikova - the owner of the visual merchandising agency in the field of fashion VM-consulting, a merchandising and store design consultant with 12 years of experience, a member of the jury of the annual ProFashion Awards. Lecturer at the Art & Image Institute, trainer at business schools in Moscow, Novosibirsk, Irkutsk, Izhevsk, Bryansk and Perm. Regular participant in trainings and seminars in the field of merchandising, lighting solutions and staff training. Participant of TV programs and Fitness Summit 2013 as an invited expert.

 VM-consulting Is a visual merchandising agency for fashion stores. Provides a wide range of services from window dressing and merchandising audit to the reconception of a VM store and staff training. More than 1000 clients use the agency's products, more than 350 unique showcases have been created and put into commercial operation, more than 500 people have been trained, more than 60 stores have been opened.

 www.vm-consulting.ru

 Sellers and buyers are often concerned about how the expected price matches the actual value of the product. I often hear phrases like "This is too expensive!" or "How cheap ... even suspicious!" Similar thoughts appear in the mind of a visitor when the store design and layout do not correspond to the real price of the product being sold. To prevent this from happening, it is important not only to match the appearance of the store with the segment in which it operates, but also to correctly work with price tags, price holders and POS materials. In this article, I'll try to explain the basic rules to follow when working with these elements of visual merchandising.

 

Rule # 1: The price must always be on the label. It doesn't matter in what price segment your store operates, the buyer should be able to figure out the price of the product without the help of the seller. The price tag hidden in the back of the boot, on which everything is written - from the sole material to the batch number - except for the most important thing, makes the buyer feel awkward and distrustful of the store. "Is the price so high that they don't want to scare me with it?" or "What is wrong with this product if the store is hiding its value?" - approximately such thoughts may arise in the mind of a customer, and none of them adds status to the store.

 

Rule # 2: The price should occupy from 20% to 40% of the price tag. This is the optimal area for the price to be distinguishable and readable against the background of other additional information, such as the composition of the product or the manufacturer. In this case, you should not give the price more space, otherwise additional information will not be read. Anything that the customer cannot easily see irritates him and makes him transfer irritation to the product itself or even the store as a whole.

 

Rule # 3: The higher the price segment of a product, the lower the price on the label should be. The prices, written in large and bright colors, are typical of low-price segment stores. The buyer is already accustomed to this, and subconsciously perceives a large price as a profitable, low, wasteful one. But cheapness is not the motive for buyers of shoes in the middle price segment. Therefore, do not confuse store visitors with large prices. Let the price on the labels take no more than 30%.

 

Rule # 4: It is necessary to show the cost of the goods in the storefront. The client should be able to understand from the very start whether the store is interesting to him, and in this he is helped by the prices of indicator items placed in the window. But there is an exception to this rule: premium brands may not indicate the cost of the product. It is not supposed to matter to their clients.

 

Rule # 5: The size of the price tag in the display case matters. The price holders are placed information about prices for a group of goods, for example, presented on mannequins. The same rule of perception applies here: more means cheaper, less means more. Therefore, the lower the price segment of the product, the larger the size of the price holder should be. For stores in the middle price segment, the optimal size is A5.

 

Rule # 6: During the sale period, the price difference should be indicated on the price tag. To do this, the previous price is crossed out, and the new price is written in a larger number next to it. Do not neglect this rule, because it really works thanks to its clarity.

 

Rule # 7: POS-Materials should be as simple as possible. Perfectly designed POS materials contain a minimum of text written in bright, contrasting type, and briefly convey one idea, for example, "1 + 1 = 3". Visitors do not read information media if they contain too much information, therefore, the simpler and clearer the message on the POS media, the greater its chance of being read.

Rule # 8: In a small store, it is permissible to use no more than 3 types of information carriers. We are talking about information carriers informing about a trade proposal - the arrival of a new collection, promotions, discounts, sales. If your store occupies no more than 100 square meters, do not overload it with different types of such media, otherwise the buyer will get confused and, annoyed, will leave without buying.

 Rule # 9: Don't have discount information in the checkout area. Despite the fact that the checkout is one of the most visited areas of the store, promoting discounts here is not only pointless, but also harmful. Firstly, the buyer already pays for the product, so information about the promotion is not relevant for him. Secondly, having seen the information about discounts, the buyer can abandon an almost perfect purchase, even if it is from a new collection. Don't tempt the client!

What size should the price tags be? Should the cost of goods be displayed in a shop window? Why are some POS materials not working? To these and other questions devoted to price positioning in ...
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