Nike compare at price tactic

Nike compare at price tactic
Rahim Hasan Mahmud

Rahim Hasan Mahmud

April 27 2023

7
2
2.5k

Nike promotes sales by adding discounts on out-of-season or slow-moving goods. They communicate value by displaying 'compare at' prices and percentage discounts. Shopify store owners can use Konigle to add compare at prices and

Case in point - Nike:

To unload goods that are either now out of season or simply slow-moving and shift to the appropriate holiday selection, Nike promotes sales by adding discounts.

Nike Pegasus series
Nike Pegasus series

For instance, notice how sports shoes such as the Nike Pegasus with multiple series and variations often have attractive discounts on the older model or less popular colours? That is Nike clearing their deadstocks!

In addition to displaying 'compare at' prices, Nike also utilizes the power of percentages by showing the percentage discount in green on product listings. It is a powerful tool to help convey perceived value.

Power of Percentage

Customers prefer to see the amount they save in percentage terms rather than in dollar terms. Put yourself in their shoes, doesn't the phrase "41% off $58" communicate much more value than "$24 off"? The discount is the same, but the language used to communicate its value makes all the difference.

Here’s how you can implement this tactic on your Shopify Store

  1. Install Konigle on your Shopify store.
  2. Under Pricing power strategy, implement the ‘Add compare at prices to your products’ tactic.
  3. Configure prices with the Bulk Price Editor tool. You can also add a validity period so that prices will automatically revert after the sales period.
  4. Add a promo disclaimer i.e. "14% off".
  5. To promote your products, use email and SMS outreach campaigns built with the Konigle Bulk Price Editor Tool. The tool allows you to design both email templates and SMS without using any other software or app.
Rahim Hasan Mahmud

Author

Rahim Hasan Mahmud

Mr Mahmud, is a pricing zealot,  studying customer behaviour and pricing strategies to provide insights and recommendations to help online stores optimize their pricing and increase profitability.