A blog on issues affecting Australia's newsagents, media and small business generally. More ...

Buying well and promoting appropriately can deepen the basket

IMG_6786We bought a pack of these ugly dolls at a terrific discount and instead of selling them at suggested retail for a bonus margin, we decided to price them for quick sale and to place them on the main path to the counter. reflecting the price and the opportunity we did nothing special for the display or sign. Shoppers pick them up and talk about them, the label Ugly Dolls does the trick.

On the issue of how to handle items you purchase at a considerable discount off wholesale – my usual advice is to keep the bonus margin for yourself. Sometimes, however, it makes sense to pass on the saving, to position your business as a valuable place to shop. Sometimes, too, it makes sense to embrace product names that can come across as rude or in your face to get people to notice them.

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Management tip

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