Ditch Discounts, Embrace Price Incentives

Ever heard the saying "never discount"? While the sentiment is right, it often misses the mark. The real key is understanding the difference between damaging discounts and smart price incentives.

Here's the problem:

• Discount: "I normally sell shirts for $25. If you preorder, it's only $20."
  • You're undercutting your own value! Your ideal price is $25, but you're settling for less.

Here's the solution:

• Price Incentive: "Preorder our new Memorial Day shirts by 5/1 for just $30. After that, they're $37."
  • This creates urgency and rewards early buyers without devaluing your product.

Think of it like this: You're not lowering the price, you're offering a limited-time bonus for those who act fast. This strategy is especially powerful for preorders, giving customers a compelling reason to commit early.

Still think higher prices are a no-go? Check out this video where I analyze 4 brands' apparel pricing - you might be surprised how much you're undercharging!