Have more promotions and Malaysians will buy from you
Even if we’re having a global recession.
I was in 1Utama today and there was an exhibition from Mac City – IPods, IMacs, MacBooks, etc. And gosh, there were so many people there! And they weren’t just browsing. A lot of them were queuing up to pay at the counter.
I thought the economy is bad. Or maybe it’s just me who is feeling the heat? Apple products are not known to be cheap, you know. In fact, all of the Apple products are expensive and in the IT world, they are often considered as luxuries. Yet, so many people are buying those things today.
So if you’re saying that Malaysians are poor and not spending much, think again. To be honest, I think most Malaysians (middle income family and above) still have a very strong purchasing power. You can see this during sales. Promotional items are becoming hot items and are much sought after, even if they’re not cheap. Things like branded clothes, bags, perfumes, IT gadgets and home appliances are still very popular as long as they are slightly cheaper than before.
If you can’t lower down the price of your products, fear not, just add in some freebies like free bags, free memory cards, free this or that. People will still come and get hooked. Just make sure you are giving better values than before and people will buy from you.
So if your products’ sales rate has dropped recently due to recession, then start some promotions or sales. Have it in a popular place and people will buy (unless your products are very bad). Most Malaysians are still not feeling the heat yet, so do it while you still can.
p/s…. or maybe most Malaysians are feeling too stressed up at the moment that they resort to “releasing” those stress by buying items they like, irregardless of the price and usefulness.
How much were those ipods and mac stuff selling for?
Can’t blame people for looking out for a good deal. Sure, the news is to watch what you spend and etc., but sometimes when they see a good deal they can’t pass up, they’ll go for the deal.
Angie Tans last blog post..Women In Technology – Why So Few?
Angie, those ipods and mac stuff are selling at regular price. The only difference is the free gifts.
i think promotions work well in 2 situations:
1. branded stuff – ie things need to have a name
2. very cheap stuff – which ppl buy in bulk like supermarket stuff.
for the former, its actually more like stock clearance – even if they make thin margins. so actually during this times, we can have very good finds
the latter, its their style of biz. and for this, the consumers are always on the promo alert
@ QuaChee
Yeap, businesses are smart to make such promotion even if they are earning a very thin profit margin. At least, they do clear their stuff and people are funny enough to fall for their traps