Posts Tagged ‘markdowns’
Discounting is like a drug.
Posted in economics of resale, Shopkeeping talk, tagged markdowns, resale shopkeeping, small business on February 2, 2014| 22 Comments »
Here’s a thought.
Posted in Shopkeeping talk, tagged markdowns, profit, resale shopkeeping on January 26, 2014| 3 Comments »
Deal indifferents make up the largest segment of the population, almost 30 percent of adults, and are unlikely to (more…)
Take a look around your consignment or resale shop RIGHT NOW
Posted in 5- Minute Fixes, Shopkeeping talk, tagged markdowns, selling on January 23, 2014| 1 Comment »
What do an Australian dentist and Kate have in common?
Posted in economics of resale, Shopkeeping talk, tagged markdowns on May 24, 2013| 3 Comments »
What do an Australian dentist and Kate have in common?
The knowledge that a bunch of flowers and a lip balm are worth WAY more to your business than taking $200 less. And cheaper too.
Click through to see what we’re talking about.
It’s “far more efficient and pleasurable for both parties.”
Giving away the farm, err, store
Posted in economics of resale, Shopkeeping talk, tagged markdowns, perceived value on December 7, 2012| 4 Comments »
Thought I’d send along this email received from a consignment shopkeeper. The email is from a while back, but I thought you’d like to see it, after the “price slashing” some businesses did for the Thanksgiving weekend.
Hope you don’t recognize yourself in it.
Hey Kate,
Thought I’d send you this for blog inspiration. I have a competitor who opened 6 weeks ago. Initially I gave her some general advice about the children’s market in [our city], etc. Obviously, she didn’t hear a word I said. In fact, when she read on a local online forum that shoppers found her store “too expensive” she posted that all they had to do was ask for a discount because she wanted to make sure everyone could afford her products.
Anyway, here’s the text from her latest ad, about her grand opening weekend.All Weekend
Strollers 20% off
All Clothing 25 % off
Accessories 10 % off
Fancy dresses 60% off
Discount rack 50% off
Baby bottles 20-50% offFriday Blow Out Specials!!
Tommy Hilfiger 40% off
Crib sets and accessories 40% off
Pink chicken dresses 30% offSaturday Blowout Specials!!
Tommy Hilfiger 40% off
Snowsuits 20% off
Fall jackets 35% offMonday Blowout Specials!!
All footwear 10-50% off
Diaper bags 20% off
Yoga wear 35% off
Cloth diapers and accessories 30% off
Thanks for sending this example in to me here on the Auntie Kate blog. As a shopper, I’d be thinking Wow! I’m AFRAID to shop there… ’cause
I’d be a chump for buying it today when, obviously, it’ll be cheaper tomorrow.
And as a consignment consultant, my reaction is
How’s that for giving away the store?
Even if such a shop were “splitting” the price reduction with their consignors (not a practice I recommend), there will be little to zero profit in selling like this… and great damage to the shop’s reputation for fair pricing either.
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