Bookstore has Black Friday Anti-Sale, Customers Pay Same or More(loremipsumbooks.com)
loremipsumbooks.com
Bookstore has Black Friday Anti-Sale, Customers Pay Same or More
http://www.loremipsumbooks.com/help/black-friday/
10 comments
While this sounds cute, I'm not sure what the incentive is for anyone to actually buy something they wouldn't have, or pay more than they otherwise would. Maybe it'd be more fun to participate if the idea were very clever. This seems about as witty as dressing up as a "non-participant" for Halloween.
Yeah, this is just a PR joke
This seems like a fairly lame fundraising attempt to save a business. The main problem with that is that people do fundraisers for charitable causes, not to save a dying business. And they raise money for a charitable cause they feel is, in essence, a good investment. Keeping a business limping along -- which presumably hasn't resolved whatever underlying problem got them in this mess -- is not something most people would consider 'a good investment'.
They would have been better off posting "Sale!!" or even "Going out of business! Clearance -- Everything MUST Go!" signs and doubling all their prices. I say this in part because I read an anecdote where some new employee accidentally marked prices up rather than down on the stuff labeled as being 'on sale' and it sold like hotcakes.
They would have been better off posting "Sale!!" or even "Going out of business! Clearance -- Everything MUST Go!" signs and doubling all their prices. I say this in part because I read an anecdote where some new employee accidentally marked prices up rather than down on the stuff labeled as being 'on sale' and it sold like hotcakes.
A decent used bookstore is a wonderful place. I can imagine wanting to support them if I lived nearby.
Here is an excerpt from another page (http://www.loremipsumbooks.com/help/5000/):
For the past 6 years, our small independent bookstore in Inman Square, Cambridge has been a place for books, community, and innovation. We now face a difficult hurdle in a difficult industry in a difficult economy: the store must move—or close.
Luckily, we found a better space (more books! room for events!) but we need the funds to make it happen. Maybe you've sold books when you've had a cash crunch — well, that's exactly what we're looking to do now, only on a bit bigger scale: Ten days. Five thousand books.
That's right — selling five thousand books in our inventory (of 19,000) will raise the cash we need to fund the move, hire staff, and set up bigger and better than before in a new location a few blocks away. (Don't worry, still in Inman Square area, and we'll bring the Chicken Machine with us.)
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A couple of thoughts:
A) This sounds like a much better presented fundraiser and is not terribly different from any other sales event where someone says "We are moving and we would rather sell our existing inventory to you at steep discount rather than move it." It still places too much emphasis on the pity factor -- on the idea that this is a fundraiser rather than a business model sales event -- and I still think that is a mistake. Most people are not interested in meeting the needs of your business so you can stay in business. Generally speaking, they expect you to meet their needs and for you to figure out a pricing model/business model that will keep the doors open so you can continue to meet their needs.
B) If you are serious about being willing to support them, you can buy a certificate online at the above page. There are a couple of places that indicate you can buy books through them online, though I am not figuring out how to do that. However, since you implied you would be willing to donate money and view it as a good cause, hey, here is your chance to do so: Buy a certificate and don't redeem it. Voila. Donation.
For the past 6 years, our small independent bookstore in Inman Square, Cambridge has been a place for books, community, and innovation. We now face a difficult hurdle in a difficult industry in a difficult economy: the store must move—or close.
Luckily, we found a better space (more books! room for events!) but we need the funds to make it happen. Maybe you've sold books when you've had a cash crunch — well, that's exactly what we're looking to do now, only on a bit bigger scale: Ten days. Five thousand books.
That's right — selling five thousand books in our inventory (of 19,000) will raise the cash we need to fund the move, hire staff, and set up bigger and better than before in a new location a few blocks away. (Don't worry, still in Inman Square area, and we'll bring the Chicken Machine with us.)
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A couple of thoughts:
A) This sounds like a much better presented fundraiser and is not terribly different from any other sales event where someone says "We are moving and we would rather sell our existing inventory to you at steep discount rather than move it." It still places too much emphasis on the pity factor -- on the idea that this is a fundraiser rather than a business model sales event -- and I still think that is a mistake. Most people are not interested in meeting the needs of your business so you can stay in business. Generally speaking, they expect you to meet their needs and for you to figure out a pricing model/business model that will keep the doors open so you can continue to meet their needs.
B) If you are serious about being willing to support them, you can buy a certificate online at the above page. There are a couple of places that indicate you can buy books through them online, though I am not figuring out how to do that. However, since you implied you would be willing to donate money and view it as a good cause, hey, here is your chance to do so: Buy a certificate and don't redeem it. Voila. Donation.
I agree with your first paragraph analysis but I doubt the doubling of prices would work very well as books (especially used ones) are commodity purchases where price is not really a signal of value. Btw, I think the anecdote you are referring to is from the book "Influence" by Cialdini and in that case the product was jewelry where the customers did not have a good frame of reference in judging quality and so fell back on the "high price = good" heuristic.
It was jewelry. I probably read it in a magazine article, which may have referenced the book. It's currently after 2am where I am. What I really mean is that raising prices (by however much) or not changing the prices at all and calling it a "sale" might have worked better than this tactic. I don't expect this tactic to work at all well. It is essentially asking for donations and doing so rather badly.
I believe the world would be a better place if there were no special sale events. That way you can buy what you want whenever you want without having to worry about someone else buying it for 30% less a week later. Also saves that useless hassle of searching for deals!
It's not about someone else buying it for 30% less a week later, it's about me buying it for 30% less a week later.
So I'm assuming the appropriate response is to come, and buy the same amount or less?