A fire sale, essentially, is a sale in which during the first couple days the product can be found at an extremely low and appealing price. Sometimes, the seller will even take a loss in profits during this time. This period is intended simply to attract buyers and increase demand, not necessarily to raise any significant amounts of profits. Once the buyers have been hooked, over the next few days, the seller will gradually increase the price and eventually reach the original intended price and then begin to see true profits from the firesale. The key is to try and maintain a solid amount of sales throughout the process due to the initial increase in demand caused by the very low starting price, thus creating the high probability of future profits resulting from a successful fire sale.
Online fire sales are just similar to traditional fire sales, except that the sellers are selling their products on the web, and the products are mostly selling in digital form. The success secret to fire sales is simply knowing how to set up the proper timing and prices in order to obtain the maximum amounts of profits due to high quantities of sales. Success of an online firesale…
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