Actual buyers remorse

[Steve]

Along the lines of Drober's thread, I wanted to touch on this as I don't think it's been covered (or at least not for a long while) on this forum.

A few times a year and more common at event sales, my experience in sales over the years along with my current dealers, loose a sale or two during each major sale.

A couple of things here...

The way in which I suggest to run these events is to acquire a small deposit of usually $500. The large majority of the spas brought in for these are factory inventoried spas or factory 2nd's and are discounted more than day to day. Hydropool actually allows their dealers to order a truckload or 2 of spas (free freight) and any inventory not sold can be sent back at the dealer cost for freight. This allows a large number of spas to be displayed without a lot of overhead for the dealer. We know that there's a direct co-relation between number of units displayed and the result of the sale. It's no different that floor inventory and relation there.

Any sale is fully refundable and we make that clear to the purchaser. If they're not 100% sure and it's a one only, all we ask the ability to call them if someone else is truly interested to give them first right of refusal.

So...to my point....

We make it as easy as possible to make this buying decision for people which in turn, makes it easier to back out Monday morning. I don't believe any company that wants to have "staying power" can operate by not refunding deposits but is there a middle ground here?

One of the suggestions I came up with was to give a small gift at the time of the sale for them to take home. My thinking was that it could help prevent it from being so easy to back out of the deal afterwards. Not an earth shattering idea but mine none the less!

I know I'm asking for trade secrets here but I have also given away many in posts as well! My question is to dealers and consumers alike; is there anything more a dealer can do to help prevent the lost sale after the deal is signed at money has changed hands due to buyer remorse?  

Thanks all,

Steve

[drewstar]

Steve, what typically are the reasons people give you when they request the deposit be refunded?  Are you seeing one or two reasons consistently?

[wmccall]

Steve, what typically are the reasons people give you when they request the deposit be refunded?  Are you seeing one or two reasons consistently?

I have to guess that it is frequently an impulse buy. Once they get home and look at their financial situation they may realize that they have higher priorities.  I think this kept us as shoppers or "lookey-lou's"  for 7 years. When we were ready, our dealer was very up front about our deposit and their generous cancelation policy. Great guys, I wish/hope they are still in business.  

[Steve]

As Bill mentioned, usually it's financially related but consumers also have no problem lying to salespeople so who really knows for sure? :-/

Steve

[Bodyaches]

Other than God....My highest priority is my bod.

Dick

[wetone]

I think sometimes customers can get caught up in the excitement of an event when they stop in and see a lot of people there and a number of them purchasing, they go ahead and purchase a spa only to do the math when they get home and find it’s not in the budget. :-/  But, our experience has been that if they cancelled due to finances every one has returned to purchase with-in a year .

We do however have customers that go ahead, put down small deposits with the balance to be financed only to find that the bank turned down the application and therefore the sale cannot be completed.  This is one of the biggest challenges for us during sales events, because that ties up the spa.  

During our sales events we bundle a GFI and water care kit with the sale price. If a customer buys, puts down a deposit with balance due on delivery they take home the GFI to get the electrical started, that might be an idea for your dealers Steve.

[Steve]

During our sales events we bundle a GFI and water care kit with the sale price. If a customer buys, puts down a deposit with balance due on delivery they take home the GFI to get the electrical started, that might be an idea for your dealers Steve.

Hmmmm....I like! Good input Wetone!

[vlady]

Good idea, everybody likes instant gratification.  Maybe send home a rubber ducky too.  

[cappykat]

vlady....I'm all about the rubber ducky    Isn't there a mfg that give those out?