Any company Increase Retail Sales that wants to increase its sales needs to consider all the factors that have the potential to influence consumers to purchase their products.
When we say this, we are talking about going beyond the selling price. It is more about something that only your business has and can Increase Retail Sales deliver to customers, and is not necessarily related to the quality or benefits of a product or service.
It could be super fast delivery, excellent service, an exclusive gift… We are talking about the added value of the product, which is directly related to improving the customer’s shopping experience .
If you want to know how to create added value in your products and build customer loyalty, keep reading this article.
What is product added value?
lass=”yoast-text-mark” />>Added value can be defined as a set of benefits that the consumer receives in addition to what he actually purchased . This perception is more subjective, but he perceives it as a differential that only your company has.
Because it is subjective, it is difficult phone number list to calculate and, therefore, should not be included in the final sales cost of the merchandise.
Added value is related to all the benefits and gains that the customer will have when purchasing that product in your store and that none of your competitors are able to offer.
Difference between added value and perceived value
>Added value is everything that adds value we find part of the old selection to a product during the purchasing journey, in addition to the price, such as packaging, service, etc. Perceived value is the customer’s feedback , involving the cost-benefit that they attribute to the product purchased.
Every customer unconsciously makes an analysis between the price of the product and the benefits it offers. Therefore, adding value becomes extremely important, since the consumer weighs not only the pros and cons of the product they intend to purchase, but also the advantages that only your store offers.
Do you know when you are looking for a product b2c fax and choose a store, not only because of the price, but because the installment plan is easy, the shipping is faster or there is a free gift wrapping option? Well, this is the added value attributed to the company, which goes beyond the perceived value.
How important is added value for retail?
The market is increasingly competitive and consumers are more demanding when it comes to purchases. That’s why surprising your customers is essential . This becomes a differentiator for your brand, which can increase your chances of sales.
These actions give consumers the perception of exclusivity, something that only your business can offer. By adding value, you can make the products you sell stand out.
In other words, a product with high added value has the ability to increase the competitiveness of your store. Attracting new customers and retaining those who have already purchased from your establishment.
Example of added value
As you can see, consumers are not always able to perceive the added value during the purchasing experience process.
Let’s look at a practical example. Let’s suppose you’re going to a birthday party. You need to buy a gift and you choose a piece of jewelry.
After searching on some websites and going to some physical stores, you have these two gift options in the image below:
value added jewelry packaging clipboard 1
Example of different packaging that may or may not add value to a product.
Which of the two options would you choose? You probably chose the second option, right?! Even though the final price may be a little higher, the advantages offered by this store are better.