It is about offering the essential product or service , leaving aside everything that we could say represents added value to it. In many cases this is not as easy as it seems, since we are used to having these extras that until now were a fundamental factor for consumers to decide between different proposals at the same price.
Examples of low-cost applied to different sectors
Especially if we are in non-essential sectors, that is, those that the consumer cannot do without, at times when their economy is less buoyant, it is necessary to adjust the price as much as possible. An example is gyms, a leisure activity. The truth is that here there is competition with the possibility of exercising outdoors, where sports such as running can be a cheaper alternative.
Some gyms have opted to charge for their essential service, i.e., using the cardio or weight training machines, reducing the price by up to 60% compared to other offers. And then they charge separately for other types of services that are complementary to the time we spend doing physical exercise, such as showers, lockers, etc. In some cases, alternatives have also been sought where technology helps us, holding some classes directed through virtual assistants, for example.
Another example we have seen is in the hospitality industry, where many restaurants have gone from offering a full menu to a half menu, or even charging per dish , where communication email list the customer can choose which dish they are going to have. In this way, customers who bring their own food to work are not put off by being able to go to these establishments a couple of days a week to eat.
But it is not just a business model for times of crisis.
But the truth is that it is not just a business model for times of crisis . We have been seeing it applied in many sectors for a long time. For example, in the airline sector, where the fundamental service is being able to fly from our place of origin to our destination, and everything else is secondary. First they eliminated meals, and soon after they started charging for checking in luggage, services that not everyone uses and that have a cost that, if eliminated, can make the final price much more attractive.
Another example is the furniture sector, where self-installation kits have been around for a long time. Essentially, what we need is a table, and issues such as transport or assembly can be offered as extra services, but we don't necessarily have to include them in the price from the start.
