How to fool your potential customers.
Souq.com has a daily deals section that sends out a newsletter to it’s subscribers every morning highlighting some of the deals they have going on their website. At times, there are some pretty good deals that are almost impossible to secure due to limited availability of stock which I can live with. But it’s when they try and fool their potential customer is what ticks me off. Here is the screenshot for the email that was sent out today.
As you can see, they are selling the new iPad at a pretty decent price of AED 1,969. However, look at the retail price and discount level on that deal. As per souq.com, the retail price is AED 2,999 and you’re saving a whopping 35% making it a really good deal.
Now head over to http://www.apple.com/ae/ipad/, the site of a company called Apple that actually MAKES these tablets. And look the pricing on their website TODAY. It clearly states AED 1,999. Considering that Apple is the manufacturer of the iPad, I believe they are pretty much the authority when deciding what the the retail price of their product should be and they have chosen to list it at AED 1,999 and not 2,999 that souq.com is claiming to be the retail price. So although souq.com has a lower price, it is definitely NOT saving you 35% off the retail price. It’s actually less than 2% savings.
While I have highlighted souq.com in this particular example, sadly this is the state of many retailers across the UAE. They assume their customer is an idiot and try and take advantage of it. IMHO, that is definitely not the best way of growing a business. Folks, try and be honest- mention the fact that you are selling a product below the retail price and passing savings off to your customer. But don’t blatantly lie on what a fantastic deal you are offering.