Home ➤ Blog ➤ Marketing Tactics ➤ Discourage Panic Buying with Longer Sales
Alec Foster • 2022-12-13
Marketing Tactics, Advertising
Digital marketing has come a long way in recent years, with companies using various tactics to grab consumers' attention and drive sales. One such tactic is the use of short sales, such as Black Friday, that encourage panic buying and the fear of missing out (FOMO). While these tactics may be effective in the short term, they often do more harm than good in the long run.
Take the skincare brand "The Ordinary" for example. Instead of participating in the traditional Black Friday sale, they offer a month-long sale that they call "Slowvember." This allows their customers to take their time and carefully consider their purchases, rather than making impulse buys driven by FOMO.
The use of short sales can also create unrealistic expectations among consumers. Black Friday, for instance, has become known for offering deep discounts on a wide range of products. But these discounts are often only available for a limited time, and once the sale is over, prices often return to their original levels. This can lead consumers to believe that they can always get the same deals, even when the sale is not on, leading to disappointment and resentment.
On the other hand, longer-lasting sales can be more ethical for both consumers and the company. They provide consumers with more time to research and compare products, which can help them make more informed and reasoned purchases. This can also lead to higher customer satisfaction, as consumers are more likely to be happy with their purchases if they have taken their time and thought them through.
For the company, longer-lasting sales can also be more sustainable in the long run. By offering consistent deals throughout the year, rather than just a few days, the company can build trust and loyalty among its customers. This can lead to repeat business and a steady stream of revenue, rather than the spike in sales that comes with a short sale, followed by a drop-off.
In conclusion, it is more ethical for digital marketers to create longer-lasting sales rather than short sales that encourage panic buying and FOMO. By offering sales that last longer than a few days, marketers can show respect for their customers and help them make more informed and reasoned purchases. This can also be more sustainable for the company in the long run, leading to repeat business and a steady stream of revenue.