Imagine you’re visiting an ecommerce website for the first time because you’re interested to buy something…
You found the product you’ve been looking for -- and it’s 10% off. Score!
Feeling pretty great, you search for another product you like. After all, the 1st product you’re buying is 10% off already. You add another product to your cart and you see that it’s discounted as well.
Skeptical, you check out the brand’s product catalogue and you see that every product is discounted. There’s no specified reason or no holiday: all of the products are discounted just because.
At first, you’d buy it. A discount is a discount, after all. But after going back to the online store, you’d value the products less because the cost to purchase it isn’t much. Eventually, you’d think that this is too good to be true so there’s probably something wrong with the products, right?
This is the exact phenomenon that we’re trying to prevent: the death spiral of discounting.
I don’t want this to happen to you. That’s why in today’s short and sweet podcast, we’re going to talk about the heatmap method for better discounting: