Increase the value of your purchase

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Increase the value of your purchase

Adding value to a purchase can occur through the provision of supporting hardware or accessories that are a natural and practical complement to what the customer is purchasing.

An electrical supply store may have brochures that give homeowners advice on how to safely carry out small repairs and installations. A store that sells sportswear—sweatshirts, sweatpants, and T-shirts—might offer socks or windbreakers as additional accessories.

This may also lead to an adjustment of prices based on the purchase quantity. This works well for products with high profit margins and where customers can easily justify purchasing multiple items, such as gifts.

There’s this guy who sells single-bottle wine stands at local fairs and malls. The product is simply a single piece of wood cut at an acute angle with a hole cut at the same angle drilled into it. The weight of the bottle balances the table. It is a new idea that is catching people’s attention. This seller sells one wine rack for $5 or two for $6.50. There are many more double packs sold than single packs. For what? It’s so much that few people can resist. An extra dollar and a half from
is just a trifle and there is always someone the buyer can give it to.

Think about supermarket prices. Where I shop, the price of packaged green onions is 3 for 99 cents. The price for a single package is not specified. Guess what? Most buyers get 3 packs for 99 cents. For what? This is a special price applicable when purchasing large quantities. The actual value may not even be relevant. It is often assumed that there is a better price for three items than for a single item. That’s how thinking goes. “Maybe they’ll pay me 50 cents for it.” If you buy 3, you’ll get each for just 33 cents.
is a better value for money so I will buy the 3″

You can often encourage customers to spend more by offering them a big discount on a second or third similar product. This can work for businesses whose customers want to buy more than one product. A good example would be a women’s shoe store. Such a company could significantly increase sales by offering a second pair of shoes at a 15% discount.