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Shopify compare at price: Product offers and discounts are, for many merchants, one of the most effective means of enticing customers to purchase. After all, who doesn’t love to get a great deal? Shopify stores regularly advertise sales and special offers. Sales, promos, discounts, and deals help drive sales and revenue. However, you might encounter a dilemma. Should you tell your customers when you’ve discounted a product’s price?
That question may seem a bit strange to consider. After all, why wouldn’t you tell your customers you’ve discounted products? Therein lies the dilemma!
In this discussion, we’re going to focus on the Shopify compare at price field. In particular, we’re going to discuss whether you should show price comparisons or not. So, stay tuned!
The Shopify compare at price strategy shows customers an item’s regular price and then compares it to the discount price. The aim is to show customers the incredible deal they are getting. If you’re wondering how to add the compare at price in Shopify, you can set or adjust it when you are editing the price of your products:
The psychology behind this approach is to show customers that they are getting a wonderful deal, and would be foolish to pass it up. This makes customers feel a sense of urgency, that they risk missing out on the deal. Shops use additional tactics like countdown timers, popup messages, and promo banners to strengthen that sense of urgency.
Suppose a customer wants to purchase a watch. The watch’s regular retail price is $100. The shop advertises the watch at a discounted price of $50. That’s a 50% discount. So, the Shopify store displays a message on the product listing saying something like, “Was $100, now $50”, or simply “50% off.”
The message aims to impress the customers by showing them the amazing deal they’re getting. Nevertheless, a couple of things need to happen for this strategy to work truly.
First, the product needs to be truly discounted. In other words, the Shopify store must actually sell the product at a lower price. You see, some stores create bogus deals by artificially inflating prices and then discounting them.
Let’s consider the watch. Virtually all retailers have the same watch at $50. However, one retailer decides to advertise the watch at $100 and “discounting” it. Hence, it appears that customers are getting a great deal. Customers eventually figure out the trick and the “special deal” is no longer effective.
Second, customers need to see if they are really getting a discount. Slapping a “discount” tag on a regularly-priced item may seem clever, but customers will eventually figure that out as well. Therefore, advertising a discount means a true discount.
Displaying the compare at price comes with some fairly clear advantages:
In short, customers see how much they save when you show the regular price compared to the discounted price. When customers see this difference, they can see that they are getting a great deal. Visualizing savings gives customers a positive impression regarding the deal they get.
Rather than thinking “I would be spending $80 on this purchase”, the customer can shift their mindset to “I am saving $40 by buying this”. This increases the likelihood of the customer making a purchase.
The Shopify compare at price also gives customers a sense of urgency. How so? When customers see a sale price, they generally feel compelled to act quickly.
How so? Generally speaking, sales prices don’t last forever. However, customers won’t feel it unless you tell them. Thus, attaching a deadline to your sales creates a sense of urgency, compelling customers to act quickly.
Imagine that you can purchase a great product. Now, imagine you can purchase a great product at a lower price. That’s what Shopify compare at price strategies do. They increase a product’s perceived value by helping customers see they get a better deal than before.
After all, they get the same great product at a lower than regular price. The main thing to keep in mind is to assure customers they get the real deal and not an inferior product.
Shopify compare at price deals offer exclusivity when you restrict who gets access to them. For instance, these special deals go out to subscribers or returning customers only.
Also, you can include exclusive welcome offers when new members sign up. Regardless of the specific approach, the aim is to ensure that customers see how much you value their business.
Shopify compare at price tactics help boost customer loyalty. These tactics enable customers to see that they always get a great deal with you.
Consequently, shopping at your Shopify store means they always get the best deal. So, why would they shop anywhere else? Ultimately, Shopify compare at price deals help boost customer loyalty by delivering value at consistently lower prices.
In most cases, compare at prices are displayed automatically as part of your product page template (depending on the theme you are using). However, some merchants choose not to display the compare at price for their products. This can be due to several reasons:
When deals are too good to be true, customers may be wary of buying. This belief is especially true when they aren’t familiar with your Shopify store.
Therefore, the best way to combat lower perceived value is to incorporate customer reviews and testimonials as much as possible. Testimonials help deflect attention from objections while focusing on true value.
Great prices may cause customers to think there’s “something wrong” with the product. Customers may think the product is bad quality or is a slow seller. After all, why would you discount products if they are great sellers? Again, it’s important to reassure your customers here, so they know they can trust your brand and products.
If your Shopify compare at price is much higher than your sale price, prospective buyers might think there’s some hidden trick to the deal, or it’s just an advertising gimmick. Some unscrupulous shops trick customers by advertising a deal and then flashing an “out of stock” signal at checkout.
These actions can easily trigger disbelief in customers’ minds. It is, therefore, important to be transparent. Transparency shows that your shop is serious about delivering great value at the best possible price.
Here are some interesting facts to consider when using Shopify compare at price tactics:
What do these stats tell us?
Customers love deals. Well, customers love the perception of a deal. Now, this doesn’t mean fooling customers into believing they are getting a deal when they are not. It means that your Shopify store must use language to communicate the deal they are getting.
So, let’s consider four important elements to keep in mind when using Shopify compare at prices:
Customers love seeing how much they save in percentage terms rather than dollar terms. Think about it this way, the phrase “10% off $100” communicates much more value than “$10 off.” The discount is the same. However, the difference lies in the language used to communicate this value.
As you can see, the power of percentages is a powerful tool when it comes to communicating perceived value. Helping customers see how they save compared to the original price allows your shop to make a powerful statement in customers’ minds.
Urgency tells customers they have a limited time to take advantage of a deal. However, they may not feel compelled to act if they believe inventory is plentiful. As a result, communicating scarcity, that is, limited quantities helps compel customers to act quickly.
Think about it.
You have limited time and quantities. This message means that if you don’t act soon, you’ll miss your chance to get a great product at a great price. So, adding stock counters and countdown timers are two very powerful psychological devices you can use to communicate your message.
Customers don’t want to go to math class every time they visit your shop. They want to see discounts as they browse through products easily. Using round numbers such as 10%, 20%, 25%, or 50% discounts makes it easy for customers to see how much they’re saving.
In contrast, discounts such as “43% of $267” require a calculator and some thought. Conversely, $10 off $267” is a much easier calculation. So, strive to use round numbers whenever possible. This approach helps boost a product’s perceived value.
Don’t be afraid to bundle free products instead of a direct discount on a product.
How does this work?
Instead of offering 10% off, why not throw in a free product? Customers love getting free stuff, even if it means paying full price for another product. After all, the best discount you can offer is 100%. So, why not take advantage of it? A free product gives your customers a clear indication that your Shopify store values their business.
With PickyStory, you can use a BOGO deal to offer a free product with a purchase. You can also add a compare at price to your Combo Product deals (which are displayed as regular products on their own product pages) so that customers can see exactly how much they are saving.
If you choose not to display Shopify compare at prices on your products, you can simply disable this field in the PickyStory app, and only the current price of the product will be displayed.
Customers love getting a great deal. Don’t you? So, communicating this proposition to your customers provides your Shopify store with the opportunity to improve its bottom line while ensuring loyalty. With PickyStory and Shopify compare at price strategies, you have the winning combination every step of the way.
If you’re looking for more Shopify tips and recommendations, check out the PickyStory blog.
Good Luck!
PickyStory helps e-commerce merchants to collect hidden revenue by selling products together. PickyStory offers a variety of deals like Bundle Products, Combo Products, Bundle Builder, Kits, Looks, and Coupons.
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