Business Money Hack
20 Dec 2024 · 0 min
0:21
Businesses use loss-leaders, free or cheap products, to get customers in the door. Once there, higher prices on other items more than make up for the giveaway and drive overall revenue up.
Businesses use loss-leaders, free or cheap products, to get customers in the door. Once there, higher prices on other items more than make up for the giveaway and drive overall revenue up.
Business owners do this all the time to make more money, whether you're digital or in-person. Instead of saying, hey, here's 2 things that you can buy for $5, they say, hey, here's this free thing or this thing that you can get for a dollar just if you come into my store. And then rather than have everything else appropriately priced, they then make the other things more expensive. And so this gets you in the door and this makes them back the money.
