Color rotation of price tags to track discounts is not a new idea. Thrift Stores have been marking down their prices with the aid of color for decades. In fact, it is such a common occurrence that shoppers automatically equate certain colors with discounts.
The Psychology of Color Coding
Color coding or color tagging is an act that draws attention to certain aspects of retail. Studies have shown that people react more strongly to signs in red, which is why many signs announcing sales are in a vibrant red. Shades of yellow signify both excitement and happiness. This is the perfect reason to advertise discounts in a bright yellow hue.
Color Tagging at Point of Sale
Some businesses may choose to use color tags to mark discounts. Other businesses, like thrift shops, might use color rotation for tags. Choosing to use color as a way to show price or discount level is as easy as it is effective when you use a POS system that can manage those discounts by color automatically. Bepoz offers the ability to let you use a rotating color tagging system in many different ways. Many establishments use buttons on a touchscreen to ring up items by their color. Others use color coding along with a barcode, which is scanned at the point of sale. Either way, the discounts will automatically apply the appropriate discount when the product is rung up or scanned.
Tracking Rotating Discounts
Your store may offer color rotation or rotating discounts on items in order to keep customers regularly engaged with your products and display the discount level of each product. Discounts on different products might occur once each week, month or other time period. An easy way to track this is with color tagging. For instance, your shop may change the color of products that are tagged each week or month and then add a rotating discount. Often the product is the standard price for the first week or two, then is discounted by some amount, for instance 25% on the third week, 50% on the fourth week etc. When it is time for an item to be discounted, they will have already been tagged and the appropriate price will automatically be rung up. There is no need to reprice every item each time or give cashiers too much permission by allowing them to manually override the price. Manual discounts also lead to errors. .
Contact Bepoz today to learn more about color rotation or color tagging. Learn how our system can automatically track discounts and special pricing for your retail establishment.
Hey this is Tim with Bepoz Enterprise Point of Sale Systems. In this video, we’re going to talk about color tagging and discount rotations in thrift stores.
So often times in thrift stores, in order to keep their product fresh and make sure they know how long a product has been on the shelf, they’ll do color rotation. So this week or this month, or any time period you want to, we’re going to tag all the products in yellow. Next week we’re going to tag in pink. Next week and the week after that, we’re going to tag in red and then we’re going to tag in green. And often times there’s a color rotation of somewhere between four and eight colors.
And as that rotation goes on, so now i know that if I tag this week in yellow, for two weeks we’re going to sell that at the regularly scheduled price. But on the third week, that price is going to be discounted by whatever you want. So on the third week we go to 50%. On the fourth week, we go to 75% for instant. And on the fifth week we either brag it out, we sell it in bulk or move it to another location, or get rid of it out of our inventory.
So Bepoz has the ability to manage these rotated colors on your products and automatically track the discounts. So that on that second week when a yellow tag is 50%, when you scan the yellow tag it will automatically be 50%, so some cashier doesn’t get to decide which products are 50% and which products are 75%, and make that decision at the point of sale. That decision could be automatically decided for them.
So that could be done by barcode. So we can scan the barcode and get the, make sure we have the correct price. Or we can allow them to do it by touchscreen. That will give them a little more wiggle room to decide what the prices are. But if they pick yellow it will be 50% off.
And so we can manage this whole discounting process and color rotation process in your point of sale system. If you’d like to talk to us about how we can help you with your thrift store operations, we’d love to talk to you. You can either call the number at the top of the screen or click the link below.