Mumbai. A shop in one of the city malls has recently announced an 80% discount on all the products to maximize profits, it has been learnt. The discounted sale has resulted in three times the profits in comparison to the normal monthly figures, the store told Faking News. The shoe shop has sold all the pairs in all sizes and colors, a few of them in bright florescent orange and in extra large size. Immediately, Faking News met the shop owner for a quick chat.
FN: First of all, congratulations in your recent sales drive! How did you achieve three times the profit, selling shoes at 80% discount?
SO: See! We don’t fake anything when it comes to our products. A pair of shoes of any size or color gives us Rs.500 profit when we sell it for Rs.1000. With discounts, we managed to sell the same pairs for Rs.2000 each, declaring 80% off.
FN: I am fairly decent in arithmetic, adding Masala to a dull news-bit to multiply corny readership; deducting a few necessary details to divide readers into multiple support groups etc., But, have to admit, this fails me! 80% discount to get 300% profit?
SO: Quite simple, really! We used to struggle selling our shoes at the price of Rs.1000. Then, we had announced this discounted sales, marking the price at Rs.10000 and announcing an 80% discount. The same customers, who have rejected our earlier price of Rs.1000, were seen happily buying the pairs at Rs.2000 each and with a smile. Quite silly really, but we enjoyed it a lot!
FN: Come on! Indian buyers are not that naïve!
SO: Oh! Yes! They learn fast. Some of them have cracked the 80% trick and questioned us. That’s when we announced a 40% discount on sales and encouraged the customers to enjoy an additional 40% if they buy two pairs. Our sales doubled quickly, you see! The Shop owner winked at Faking News.
FN: Wow! And you managed to sell your entire stock?
SO: Yes. After our decent stock got over, customers stopped stepping into our store, seeing a few pairs left in disgusting colors. That’s when we added the magic word in front, to say CLEARANCE SALE. Even when the store was having only two pairs left, a couple walked to buy the last pairs, one in orange and another in burgundy color, using the additional 40% off offer. The shop owner could barely conceal his sarcastic smile.
After the interview, Faking News reporter, a compulsive shopaholic when in malls, was seen buying a pair of pants at 40% off and another for an additional 30%, right at the next door clothing store.