Shop Prices are 2.7% lower than a year ago!

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In the FT today, it is reported that shop prices are now 2.7% lower than a year ago.

Why is that? 

  • Have costs fallen? NO
  • Is volume hugely up? NO

The reason is: they are not delivering a good enough experience … so they HAVE TO compete on price: costing them BILLIONS, when, for an investment in the THOUSANDS, they could get it really right.

It beggars belief.

In the same vein, retailers complain that people are now doing ‘retail browsing’ (looking at the good in their shop, and then buying online). 

Some idiot is even now charging customers to browse.

It’s the same issue: if they focused on the customers’ REAL (emotional) needs and worked hard on engagement and value, price would be much less important to the customer … because they don’t, then price is everything to the customer.

Using these ideas, we just turned the sales hit rate for a kitchen company for appliances from 35% to 80%, almost overnight.

Some customers will always want the cheapest: forget them: go for the majority who want value, and focus on developing their experience and engaging them … the results will follow!

It’s guaranteed …

Republished with author's permission from original post.

Guy Arnold
Guy is the author of 'Great or Poor' (www.greatorpoor.com ) … a simple and effective system for delivery of consistent and continually improving customer experiences, 'Go the Extra Inch' the effective way to empower your people, and 'Sales through Service' (www.salesthroughservice.com ) how to sell more through repeat business, referrals, round sales and reputation (the 4 R's). Guy helps Organisations large and small to systematically make more sales for lower costs, through 4 simple principles.

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