Price Drops and Tags

I went shopping the other week and noticed an interesting trend at grocery stores over the last few months. They are making use of price drop tags more than before to entice consumers to buy multiple units of an item or just to spur interest. Specials like 10 for $10 or just simple price drops. As a wine section, you don't always want to have red or yellow price drop tags all over the store that make the wine section feel like a discount center. But it might not be a bad idea to have price drops on more popular items, overstocked items, or just items you want more people to get their taste buds on. Wine accessory product like ours provide high margins so they are the perfect type of product to do price drops on or multiple quantity sales. Try it out with a selection of bottles and some corkscrews to see if it spurs sales. The way in which you mark them to catch the consumer's eyes will be the most impotant so use colorful signage to catch the eye but not distract from the overall feel of the store. There is nothing better than testing out small pricing strategies to optimize the sale of any given inventory item.