Pricing Hurdles and 2015 Event Details
A new entry in the case studies section looked at two ways that retail florists can use hurdles to discount selectively. The two strategies are very sophisticated in that they attract a new type of buyer – the person that buys flowers for themselves – very effectively. This kind of buyer will typically spend less than the customer that is buying flowers for someone else (which is why we want to selectively target this kind of buyer with the discount) but they are also likely to buy more often.
Creating this type of customer can be very profitable for a florist. The hard part is doing it in a way that won't cannibalize full price sales by discounting to the people that are buying flowers for other people (and willing to spend more money). The hurdles covered in the new content take care of this beautifully. And while the way they work might be sophisticated they are quick and easy to implement.
This material joined some existing content on hurdles. One looked at the "Cheap Tuesday" practice of discounting movie tickets on Tuesday nights was very effective at selectively targeting only those most serious about saving money at the movies (and repelling anyone who was prepared to pay full price!). Another case study looked at how a minor product attribute like color can be used as a very effective hurdle.
Finally there are details on some upcoming Beyond Cost Plus events. The dates and times for the sessions on quoting weddings and events at the Great Lakes Floral Expo have been finalized – they will run from 11:00 AM to 12:00 Noon on Saturday March 7 and Sunday March 8.
Pricing sessions for florists have also been confirmed for the WUMFA annual convention two weeks later but the dates and times are still being finalized. Other sessions are being discussed for events in March and April. As details become available they will be posted here on the Beyond Cost Plus site and also the speaker site.