My black friday summary

Discussion started by LemonadeCG

I want to briefly share my black friday experience with the fellow sellers. First of all, you should know that usually i'm selling my models at full price and offer discounts only once a year, during black friday-cyber monday period. I do that not because i believe that discounts would attract more buyers - i answered that question to myself long time ago - i do that because i like to look for dicounted goods during black friday myself, so it's only would be fair if i'd offer discounts as well.

Now on to my experience this year. I will start with one week before black friday (Nov. 18-24). Don't know how it was for others, but for me it was very quiet week - only 1 sale from monday to sunday. It could be just coincidence, or maybe buyers were expecting big discounts in upcoming week and tried to hold on their purchases. Next week, starting monday (Nov. 25), cgtrader started its early BF discounts, but i didn't joined yet, nonetheless things started to move and in next 3 days i sold 7 models for full price. For my shop, that is considered really good result. For next 5 days (thursday to monday), i offered 30% discount and sold 5 models, which is not bad, but nothing spectacular.

So there you go, that's how went my discounts adventure this year. Do i think that offering discounts had helped to attract more sellers to my shop? I don't know, probably not, but i think that it helps when others around you are offering discounts. That increases traffic and customers are more likely to buy something they need, no matter if model has discount or not. Meanwhile i'm going back to normal prices and will keep it like that till next BF :]

Answers

Posted almost 5 years ago
5

I think for normal sellers like us (with relatively small collections) it's very hard to make conclusions based on our sales.
For me the most indicative data is the one that 3d_Molier shared on TS forum - he wrote that he experimented and was always at loss when participated in discounts.
He has the largest and most diverse collection on this market, so I think his conclusions are the most accurate.
Even if you make higher number of sales in the end you make less profit, especially with large discount % (have in mind ,at the time 3d_Molier shared this ,TS max discount was 30%)
I think the true is, discounts are used mainly as a weapon to kill competition.
They can work for certain types of mass products that appeal to large groups of people like computer games (or potatoes), but on our specific market individual sellers will lose in 90% of the cases.

LemonadeCG wrote
LemonadeCG
I agree with you that small collection (less than 1000 models) is not enough to draw any conclusions and definitely stats needs to be obtained from long term controlled experiments and not from few random days. Nevertheless, i've done few experiments where i offered discounts for 6-8 months, then turned discounts off for similar period and repeated the cycle for couple times. I never observed increase in sales or traffic during discount periods, but i definitely saw less revenue from each sale. So i simply stopped offering discounts and i never worry about it. It's a shame that cgtrader started all that mass discounts craziness years ago, but at least they give you an option to opt out, unlike some other marketplaces, which are selling your models at discounted prices against your will.
Posted almost 5 years ago
2

I'm not sure about number of my sales but I'm pretty sure I make less money during discounts. If I consider that CGT offers discounts at least 200 days per year..
And yeah, CGT started this nonsense and helped to ruin pricing in this industry. *stick in bike wheel meme*

What do you think, how many days we will have until next discount? I guess next one will be on the weekend.

Posted almost 5 years ago
2

Omg, we already have another discount.

Posted almost 5 years ago
0

Apart from the size of the collections, which has already been commented, I believe that an important factor in sales is the target audience, depending on what that audience is, it is easier to visualize their buying habits.
       During a sale, it is more likely to sell models for Unreal, to say the least, that specific models for the screen, the former have a wide range of buyers who can have the purchase planned in advance and expect the sales.
       A specific model for the screen will be sold when the buyer needs it, regardless of whether there are sales or not, depending on their own needs.
       For me, this is the key factor in deciding whether one wants to participate in discounts or not.

trimitek wrote
trimitek
Even in the Unreal models example, you still lose money. If customer needed your model and there were no discounts offered he would have bought it without waiting on full price. Only customers who can wait can win from this - Artist still lose money.
Posted almost 5 years ago
1

Well, was just an example, I have no idea about Unreal customers, my point is that for small and focused stores , sales don´t mean more revenue, so, I agree with you.

Posted almost 5 years ago
2

For me sales this year was the same as last year (good), but this year I did not participate in big sales and stayed with the usual 30% discount (so no difference). I've been having my doubts for a while now about the usefulness having discounts on my models, especially considering I'm not on other market places anymore (except selling on own website) and my models do not have that much competition in general. Going to turn of discounts and only participate with a regular discount on holiday's, black friday, etc. and evaluate it over a period of one year.

Having discounts is probably more useful for sellers in the crowded category’s, however, I do believe if you also sell on Turbosquid it would be an unwise decision to turn off discount here as you would give Ts free play to lure in your own customers to their expensive platform. You would just swing your own customers a bit harder to them and not going to have more sales in general, just more of it on Ts and less of it here.

Its just bad to be on Turbosquid in general, fueling the discount battle, promoting a very expensive platform, swinging own customers, etc. It makes sense to be on special markets like Unity store, UE4, curated stores, etc. but not simultaneously be on the two major competing platforms everybody has an account on. They battle in the same client pool and it gets a big mess so just help the clients make the right choice (whatever you think that is).

Posted almost 5 years ago
0

for me and my 3d-jewelry BF gave nothing. Just 2 sales in the last 2 hours of BF-discount. But I'm happy, because customers bought not replicas but my own designs.

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