It’s far too easy for your staff to discount just to make a sale. Its quick, it’s easy, and it’s the store profit that suffers.
Even when you work in an industry that readily negotiates on prices, such as Markets, 2nd hand goods, Auto Industry etc, you and your staff need to stand by your product. If you have a good quality product, listed at a fair and reasonable price, that cannot be purchased in 5 minutes cheaper down the road, then you MUST stand by your product.
“I see it cheaper on E-bay” – Yes you do. Ebay stores don’t have expensive rents and don’t need to make the profit margins you do.. however.. They can’t see and touch the product. In your store they have it in their hand and can take it home with them NOW. You won’t charge them any additional postage, and they want have to wait for it to be delivered.
Ebay isn’t going to offer ANY sort of warranty. You are.
Sell the value in you, your team and your product. It’s actually quite hard for someone to ask for a better or discounted price.. astoundingly, it’s far easier to respond with,” its priced very well right now”
If discounting is the culture within your business.. keep it uniform and keep it small.
“I will give you 5% off because you’re a loyal customer” “How about i will give you 7%, more than I would give anyone else?” “You drive a hard bargain sir, OK, 10% if you’re going to walk out the door with it right now”
This politely makes reference that the price will NOT be held in the future and a decision must be made right now. In most cases, customers will take the offer.
Never jump to 10% / 20% or maximum discount.. your just shooting yourself in the foot.
Stand by your product and your pricing. If it’s a good quality product at a fair and reasonable price, then don’t let yourself or your staff be bullied or threatened by customers into reducing a price.
Matty Mac - Oz Retail Group