BevBytes - Selling Wine By Price At The Store – aka Point-of-Sale Marketing
Jeffrey Slater is a marketer who writes a blog on a number of subjects including Food and Wine.
In a recent post, he wrote about some interesting and creative approaches to marketing wines.
One of them was grouping wines based on price.
Many of us know, especially those companies that use OnTrak, that the way the product price gets communicated to shoppers is through a point-of-sale sign or display which contains the price.
And that price is one of the best way to convert a shopper into a buyer.
So here's an excerpt from Jeffrey’s article that discusses pricing:
Selling By Price at the Store
When most consumers make wine purchasing decisions, they start with price. (Varietal and geography tend to follow after price).
Why not organize shopping experiences in retail by price point which is how most consumers do look for wine?
Imagine a store that had the $3-5 wines together, the $6-$10 in another section and the $11-$15 next.
Since 85% of the volume come from $10 and under, wines by price point makes so much sense for shoppers that I often wonder why retailers don’t merchandise it this way.
Imagine the retailers making it easier for the consumer. What a novel approach.
Or imagine how Steve Jobs, Dyson, Lexus or Picasso would enter the wine business.
Jeffrey’s full article can be read by clicking on the following link: