Everybody loves a bargain. No matter how much an item costs, if it’s discounted by a significant margin, consumers believe it’s a great deal and that they win by taking advantage of it.
The psychology behind discounts
Having a sale works by tapping into “discounts psychology”. It’s why consumers come out in droves to shop during traditional sales periods, and why a sale at any time is perceived as something not to be missed. For the retailer, it helps clear stock and maximise profits.
Consumers need to be able to see the original price as well as they price they will pay, and the savings will seem so appealing that they are compelled to take advantage of the deal.
According to ACCC guidelines, pricing must be clearly displayed – so it’s the law to show both original price and the new, discounted price. But many savvy consumers might ask, is a 50 per cent discount real when it’s sustained over a long period of time? No. This is misleading advertising and vendors must keep records substantiating that prices displayed are actually discounted and not a new selling price. Not all, however, comply with this.
Mattresses are among those items that always seem to be on sale. Why is this? And is it legitimate?
They are big-ticket items and most people only purchase a new mattress for themselves a few times in their lives. While mattresses should be replaced at least every decade (some experts suggest every seven years), most people wait much longer to invest in a new one. This can compromise their sleep quality and their health. By having a “sale”, mattress retailers offer incentives for shoppers to purchase and to do so more often.
Yes, mattresses can be very expensive. The reasons for this are myriad, but one of the biggest reasons mattresses are so expensive is that they carry historically high traditional retailer margins. What this means is that traditional retailer mark-ups on mattresses are significant – if there is 50 per cent off a mattress, it’s quite likely that the retailer had placed a 100 per cent mark-up on the product. Some retailers even mark-up prices by 200 per cent! The real recommended price of the actual product is much closer to the sale price stated. This mark-up includes the store profit margin and the sales commission and will often be brand dependant. It’s also important to understand that big name brands don’t necessarily equate to a better product.
With mattresses it is also difficult to begin to compare prices because retailers frequently change the model names of the mattress even though the specification might be the same, making a price comparison almost impossible.
Buying mattresses online
Modern shoppers can benefit enormously from shopping for mattresses online. While some consumers might feel this is a risky endeavour, it’s not. It is true that you can’t “try before you buy”, but in fact it is simply not possible from a few moments in store to get a true impression of what a mattress is like to sleep on night after night.
The best online mattress retailers will offer a returns policy to trial the new mattress for a period of up to 100 days and an online seller who doesn’t stand behind their returns policy is easily exposed through online forums and reviews. Statistics demonstrate that buyer satisfaction is as high as for a mattress tried in-store.
The costs are minimised when you purchase online, as there are no retail premises to maintain, no expensive and often ineffective sales resources, and mattresses are sold directly from the wholesaler – there is no middle-man taking a chunk of the profits.
As mattress designers, manufacturers and retailers ourselves, we know our online product made by our manufacturer to our specification, vetted and inspected by us is of better quality, demonstrating better durability and long term comfort than products many times more expensive bought in store.
Additionally, online shoppers tend to be more informed about their needs as they have researched products prior to shopping.
Shopping online for your mattress:
- Is convenient
- Is cost effective
- Pricing is transparent
- Products are of premium quality
- You escape the aggressive sales tactics of retailers in store
- Return policies are often better
Explore our website to discover how Sleep Republic can introduce you to your perfect new mattress, no marketing hype, no pressure sales tactics, no fake discounts, no ‘sponsoring’ of the Lesser Spotted Warblegang, just a great mattress designed and made by people who care sold at a fair price.
What are you waiting for?