80% more revenue (Downselling vs Upselling)

This is a study from a report in a Sales Management magazine:

There were different models of billiard tables with a range of prices from $329 to $3,000.

During the first week, customers were shown the low end of the line and then encouraged to consider more expensive models – the traditional trading-up approach.

Result:
The average table sale that week was $550.

During the second week, customers were led instantly to a $3,000 table, regardless of what they wanted to see and then allowed to shop the rest of the line, in declining order of price and quality.

The result of selling down was an average sale of over $1,000.

That is the Price anchoring technique in action. If you emphasize the most expensive price first, any price after it suddenly looks much more compelling.

Source: sixteenventures.com


Cheers,
Charlie Patel ;)



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