“Pricing & Profit”
is very important to today’s retail shop business which has high competition. The combination of product available and pricing is the heart of success. The shop should consider ‘Margin Mixed’ as the following methods;
1. Pricing to generate main sales and profit
Best-selling products which draw customers to the shop are consumer products. The shop should have them available at all time.
2. Pricing to make profit and create modern image
New products or season products can be priced with high margin, to make high profit in that short period.
3. Pricing to build competitive advantage
Product or service that the nearby shop does not have, can be marked up with high margin, to help lift up overall profit performance.