Nothing Left But Price?

In business there's a saying that, "When everything else is equal it comes down to price." That is how the the big box discount stores sell and become profitable on volume. They are counting on the other businesses to provide no more service, no better selection and no better "Customer Experience" than they are and they get the sale on the lowest price. When the other businesses try to compete on price they have no chance against the big box stores. They will never let you beat them on price and you will go broke trying. But when you compete on "Customer Experience" the discount stores lose the sale.

Not everyone shops 'only the lowest price', in fact surveys show that less than 50% of shoppers do unless they can't find any other reason.  It's your job as an independent business owner or manager to show them why price is not always the best option. Big discount store have little in-store assistance, difficult return/exchange policies, and many products that are made poorly to keep the price down. They use massive advertising to get people in the front door, then treat them like cattle going to slaughter. Don't fall prey to their tactics but give your customers something they can't get at the big box stores, something you can be proud of that will bring them back. Offer a "Customer Experience" they won't get at a competitor and you don't have to worry about losing a customer to a lower price elsewhere.

Barry is a business speaker, international author, entrepreneur and business coach, www.idealetter.com