jeudi 29 septembre 2016

Google Adwords and competitive pricing: New to retail

Hi! I'm new to the forum and I don't even own a business but I'm looking for some advice for the retail store that I basically manage (my boss has most of the decision power but is never here). First of all his prices are high to say the least. I know you can never compete with amazon but he tells me to just double the cost of every item accross the board to price it regardless of SRP, popularity or other considerations. Is this normal? What is a potentially better strategy? My idea was pricing popular heavy items higher to subsidize lower prices on lighter impulse-type items. Also, the only advertising he does is google adwords. I know this is cutting edge but I feel like this will also cause the google algorithm to display what we sell from other online retailers cheaper. There is only one brick and mortar competing in the whole state so the main competition has to be online.

I wouldn't be posting if it the business was doing well. Its been super slow for a long time. I try my best to sell sell sell but you can't sell what people can't afford and can't sell to people who don't walk through the door. I'm really new to retail but since I'm here and he isn't I hear what the customers say about want from the place. I really like working here and feel a sense of responsibility since I am the only one here most of the time. Looking to maybe start a business myself in the future and want better methods.

Sorry if this is a rehashed topic. Also bored cause its really gdam slow.


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