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Why B&Ms are struggling
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<blockquote data-quote="Zeno Marx" data-source="post: 155315" data-attributes="member: 1211"><p>I always want to ask if they would be smarter to try to sell in volume than by profit margin. In other words, mark those tins low and hopefully sell many of them instead of maybe only selling one or a couple at such a high price. Keep money flowing through the shop rather than sitting on it while waiting for that one sale. Keep customers guessing if you have new product because you often do. The more happy customers you have, the better the business. One guy walking off disgruntled at $19 is bad advertising.</p><p></p><p>On a similar note, a lot of retailers never learn that sitting on product and being stubborn about profit margin isn't smart business. They have pipe stands sitting in the shop for 5 years. Their idea of a sale is 10% off at X-mas. Better to practically give them away, get some cash out of them (no matter how little it might be), and put it into new product. Write it off as a loss on the taxes. Dead merchandise is negative in every way. Get it out of the shop. Take the few bucks and reinvest it in something new and that has greater potential to sell. If that doesn't sell, repeat.</p></blockquote><p></p>
[QUOTE="Zeno Marx, post: 155315, member: 1211"] I always want to ask if they would be smarter to try to sell in volume than by profit margin. In other words, mark those tins low and hopefully sell many of them instead of maybe only selling one or a couple at such a high price. Keep money flowing through the shop rather than sitting on it while waiting for that one sale. Keep customers guessing if you have new product because you often do. The more happy customers you have, the better the business. One guy walking off disgruntled at $19 is bad advertising. On a similar note, a lot of retailers never learn that sitting on product and being stubborn about profit margin isn't smart business. They have pipe stands sitting in the shop for 5 years. Their idea of a sale is 10% off at X-mas. Better to practically give them away, get some cash out of them (no matter how little it might be), and put it into new product. Write it off as a loss on the taxes. Dead merchandise is negative in every way. Get it out of the shop. Take the few bucks and reinvest it in something new and that has greater potential to sell. If that doesn't sell, repeat. [/QUOTE]
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Why B&Ms are struggling
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