Major retailers often use was / now price labels to show shoppers a product discount. This type of product discount labelling is rarer in small business retail. But, it shouldn’t be. It works.
I am grateful to have been able to see how was / now price labels work in retail compared to the more traditional for small business larger poster with or above discounted products.
A trial was done is a small business retail situation in a controlled way with the only changes as noted – introducing the was / price stickers and removing all other discount related messages. The products were maintained in the same location in-store.
Switching to was / now labels and removing the posters increased up-take 500%. The base was okay. The growth from the was / now price label move will see the end of line items quit sooner,. freeing cash and space for the business and better addressing the opportunity cost issue.
This type of label can be produced through your POS software. it’s easy, low cost and likely to work. If you have items you are quitting, I recommend it.