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Small Business Ideas Forum

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Old 7th April 2009, 07:00 PM   #1

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Default Show Retail Price Or No?

what is everyones thoughts on whether to show a retail price and cross it out with lower price or else show a regular price and cross it out with a lower price on every item? or is it best just to list one single price and be done with it? any thoughts?

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Old 7th April 2009, 08:22 PM   #2
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Depends on how you're positioning and marketing your business.

If you want to emphasize that you have lower prices than the competition, then try listing a "retail price" crossed out with your lower price next to it. Just make sure if that's the pitch you're going to make, that your prices really are lower than the competitors'.

If your message is that all your products are discounted or on sale, then a "regular" price crossed out might work.

If you don't want to show everything as a discounted product, but would prefer to run sales on selected items, you should only do the "crossed out" prices for the items that are actually on sale so they'll be more prominent.

And if you want to position yourself as a value-added provider (instead of a "discount" provider), then don't show crossed out prices at all. Just display your price as it is.



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Old 7th April 2009, 08:28 PM   #3
Biz Optimizer
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Default Take advice from the leader - measure correct improve

Were it me, I would take advice from the percieved price leaders - Walmart and groceries. They've measured and corrected to a science the practices of:
  1. Not being undersold on items that are price shopped.
  2. Clear and consistent price labeling - done by the manufacturer with stiff fines ($50,000 I've heard) if wrong.
  3. Knowledge that peope will buy what their eyes are attracted to - by placing a big yellow tag sticking out from the shelf is percieved value and sales will go up immediately whether sale or not.
  4. Product placement science - reason milk on back isle, sugar on inside shelf in turn - kids cereal at kids level - some things pull people in store - some things people will look for - others are spontanious decisions and must catch the eye. They are designed to maximize sales.
There is a science there, so copy what you can. Measure what you can't copy. It is easy enough to run tests with your scenario and get THE answer for YOUR store.

It will surely depend on what you are selling and your constomer's perception of both your list AND sale price! Too much for them to judge is my guess.

You'll have to go a long way to match the science the grocers have in their profit maximizing pricing and placement. You can fall in love with your/others wrong guesses far too easy.

Good luck and good measuring.

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Old 12th April 2009, 11:21 AM   #4

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Like Ed said I think you should test it out and see how it goes.

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Old 13th August 2009, 02:42 AM   #5

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my method is two websites, one is retail website with retail price, one site is wholesale website with wholesale price, lol

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Old 13th August 2009, 09:52 AM   #6
Tom Young

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What are you selling?

Your question really is not much different than if you had asked do you like the green one or the red one best.


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Old 16th August 2009, 08:57 AM   #7

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Great thoughts here. IMO, just make a clear statement about your product. Say something that is easy for prospects to easily get the "price affordability idea."

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Old 26th August 2009, 09:30 PM   #8
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My advice is to try both and see what happens. You can have a lot of theory and get a lot of advice but, sometimes the simplest thing is just to do it and see what unfolds.

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Old 1st September 2009, 08:15 AM   #9
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Listing one single price is essential for the Owner because it saves time and energy. But remember, people are very discreet this time of crisis. They prefer products which are cheaper so they can save money.

I think it's best to do ways wherein your product would be dispose off faster.

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Old 2nd September 2009, 05:59 PM   #10

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I know myself when i go shopping, I never buy anything for full price I wait for sales then buy. My point is by putting the retail price then crossing it out and putting your price, your customers will see they are getting a deal and are more likely to buy.
I also agree with what torka said.

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