Shopping, or rather shopping for food, is something that I cannot say I enjoy. So as I’m dragged along the isles, I tend to spend time thinking of the business around me.
I often think about what are the best buys and all those special deals. BOGOFF – how impolite! – Buy One Get One Free, that special deal you shouldn’t be able to refuse.
Many times I have worked out that the special deal isn’t so special after all. So I wasn’t that surprised to see that Panorama did an exposé on the big 4 supermarkets.
What I was surprised about was the amount of examples that were found and the response of the stores.
Do you think it will impact on the public? Do you think they will now be wary of a ‘special’? Do you think you may need to review the way you offer a great deal?
The saying, ‘ you can fool some of the people all the time, but you can’t fool all of the people all the time’ is very true; it’s all about your reputation as a fair supplier, to be seen as having very high integrity.
So next time you think about doing a ‘special deal’ make sure it is great value and will only be seen as such.
Beware of reducing your prices, a discount of 10% comes off your sale price rather than your cost to supply. A 10% discount is more like 15%. Always check your numbers – will you still be making a profit? Better still, offer more value rather than reduce the cost, as long as the customer wants the extra value.