Black Friday Specials For Coins?
Today is Black Friday, the day of great big, fabulous retail sales, the day that pushes big retail outlets like Walmart, Target, Best Buyand Amazon over from the red to the black of their accounting legers. Those retail outlets count on lots of sales today, they have to see lots of dollars flowing in, or we can all expect more bad economic news.
I went around online and checked out several sales last week and even more this morning. Found plenty of good Black Friday deals, some were just good prices, a few were what seemed to me stunningly discounted. Mostly, I look at DVD's, video games, electronics, books and such guy stuff. Filled out a few items on my families Christmas wish list!
The point of this great shopping day, however, seems to be lost on many specialty retailers. I particular, I am thinking of coin dealers and publishers. We really don't put on any big push for Black Friday sales and as a result, we don't experience any boost in revenue from this highly recognized shopping blitzkrieg.
Of course, with coin dealers, especially in the secondary market, big sales are difficult because supply is limited. To draw margines in so tight takes a good deal of volume, which secondary market retailers do not have. The benefit of bringing in more customers with a loss leader product, however, would be great for coin dealers. New customers mean more initial business on the day of the sale, plus more return business all year long. It's worth pondering a bit.
For publishers, it should be a given. We should always have a few Black Friday specials on our website. I would love to see Coin Digestat a super discount on Black Friday and maybe the Standard Catalog of World Coins 2001-Date, or even the venerable Standard Catalog of World Coins 1901-2000 for maybe $25 or so to blast our the past years edition.
We do often run special sales at the KP Books websiteand our company now has a Clearance Book websitethat offers some really great deals on many titles all year round. Still, I would like to see some Black Friday sales, so that coin collectors can get in on some of the fun of this mammoth shopping extravaganza.