Retailers are doing their best to compete with one another over who has the biggest discounts as Christmas, the annual holiday honouring peace, love, and shopping, approaches. But is it truly in your best advantage to give a Christmas deal at a low cost?

James Eden, the proprietor of the British company Private White, disagrees. Right before Black Friday, he posted on LinkedIn, “We believe that bargain culture is training consumers by driving them to reject the intrinsic value of a product.”

Private White has declared that it will provide a 0% discount throughout the retail holiday, and he keeps his promise. “We’ve worked hard to price our clothing properly, and we believe it’s time to start a dialogue with others.

I think James Eden’s assertion has a lot of merit, and the same reasoning should be applied to the Christmas purchasing frenzy. There must be a more effective technique to increase client retention without reducing your profit margin. Why not locate the worth in your values rather than reduce your prices? Why not develop a compelling marketing plan for Christmas and consider engaging clients in ways more than just making a sale so they will continue to visit long after the sales rush?

Christmas Savings Are Actually Hurting You

‘No price reductions over the holidays!? That’s ridiculous! You could point out that the main draw for shops is discounts. However, do they really? Actually, when businesses compete against one another, they are engaging in a destructive trend.

The Black Friday ad from Private White provoked passionate debates on the value of discounts and better alternatives.

People chase the numbers instead of looking for quality or a consistent customer experience because of the seasonal competition to offer the lowest prices. Not to add that significant price reductions covertly suggest that your product is overpriced and should only be purchased at a discount. Getting rid of their old stock is another common complaint made by businesses on Black Friday, which again does not present a positive image of your store, even if it is untrue.

To prevent price tag fatigue
I’ll let you in on a little secret: people don’t go looking for deals on things because they can’t otherwise afford them or because having that item is essential to their survival. They actually desire the sensation of getting a fantastic deal. Shoppers experience an emotional high after making a wise decision or getting a gift.

Seeing the same item you just bought being sold for less elsewhere is maybe the biggest letdown there is. People are therefore growing weary of comparing price tags out of concern over losing out on a bargain. From their point of view, sticking with a specific retailer would be significantly more practical, but only if the retailer has the ability to reward their behaviour.

Putting Your Values to Use
Being a trustworthy brand is significantly more significant in the eyes of the customer than having affordable rates. The best way to do this is to have values that are obvious and that your customers can relate to. Rewarding consumers for exercising, for instance, is particularly appealing to athletes if you run a sportswear store that promotes an active lifestyle.

And trust me, we have the technology to make this possible. It is not at all challenging to connect with Fitbit and provide points to customers for attaining a goal during their workout. Imagine the potential if you gave your training time a brand-flavored identity.

Exclusiveness Using VIP Clubs
Have you thought of elevating the core value of your product by making it seem exclusive? The retail sector is driven by exclusivity and VIP offers, and if there is one thing that customers want more than a good price, it is the chance to join an exclusive club. Why not combine these two ideas then?

Special interest groups function like inner circles, with only the most devoted consumers having access to them. Members must pay an entrance fee in loyalty points to join, but once they do, they gain

Exclusiveness Using VIP Clubs

Have you thought of elevating the core value of your product by making it seem exclusive? The retail sector is driven by exclusivity and VIP offers, and if there is one thing that customers want more than a good price, it is the chance to join an exclusive club. Why not combine these two ideas then?

Special interest groups function like inner circles, with only the most devoted consumers having access to them. Members must pay an entrance fee in loyalty points to join, but once they do, they gain early access to sought-after merchandise.

Offer rewards other than money, such as experiences instead

Offering experience prizes to active VIP Club members is another worthwhile strategy. Sending a present that is dear to their hearts is the best approach to guarantee that your top customers continue to be loyal. This may be a ticket to your latest collection’s runway show, an autographed photo of their favourite designer, or an invitation to a cocktail party.

You’d be astonished at the extent people will go to in order to join an exclusive club; some clients even open a second account to take advantage of all the perks!

Winter Is Near… For Savings

James Eden and I have a personal relationship, so I am aware that Private White’s 0% discount promotion is more than just a clever marketing gimmick. The business genuinely represents a new trend that could fundamentally alter the way we perceive the retailing of clothing.

With the correct customer retention strategies, businesses may develop a competitive alternative to discount-based marketing and engage consumers both inside and outside of the buying circle more meaningfully. We are pleased to assist because this is what we do.

Additionally, consumers who select a merchant based on a positive shopping experience have been shown to be more devoted and to make purchases more frequently than those who do not.