Sell Patiently for Sentimental Value

In the era before we pulled out our telephones to check the time of day, a wristwatch or even pocket watch was a treasured gift for landmark events such as retirement after years of employment in the same job. A watch acquired under those circumstances came with sentimental value. It could never be fully replaced if lost or stolen. Even if the watch stopped working as a timepiece, the recipient would resist discarding it.
     When you’re able to add sentimental value to items you’re selling, this value-added makes the items more attractive to consumers. You can set higher prices for the items.
     Two keys to sentimental value are occasion and location. A successful tactic for Swatch Group in the mid-1980’s was to sell obviously different wristwatch models in different locations. As a result, many women would go Swatch watch shopping at retailers while traveling on vacation. Special location and special occasion.
     Beyond store settings, the special location could be a street fair. A distinctive item sold there by a part-time retailer can carry with it all the memories of a fun day. Or it could be at a home shopping party, pairing the warmth of companionship with the purchase. The shopper realizes that each time they’ll use the item or even look at it, fond recollections will come.
     Still, location and occasion aren’t enough. A third key to sentimental value is salesperson patience. If the vacation visit to the store, day at the street fair, or evening at the home of an acquaintance feels pressured, it’s not sentimental value which is added. Consumers don’t get at all sentimental when in a rush to buy or when they feel they’re being rushed. Cultivate conversation and encourage browsing. Because you’re setting a price premium for sentiment, you can afford the extra time.

For your profitability: Sell Well: What Really Moves Your Shoppers