In a world of big box retailers, discount clubs and online shopping it's no suprise that today's small business feel they must get into a price war to be competitive. But this may not be the best decision. “In a race to the bottom, you usually lose,” says business coach Pamela Bruner in a recent article at the National Federation of Small Business website.
The article discusses that cutting prices is most often a losing proposition for the small independent. Becky McCray’s advice on the competition is, “don't underprice them, over-deliver them.” The greatest value a local independent optical business is that is more than a one-trick-pony and can offer quality, selection, care and custom solutions along with affordable prices. Most consumers today are willing to pay more but it is our job to intrinsically show why.
One key take away was make sure not to focus so much on pricing and to think of it as just one tool in the tool chest. “You also need marketing, a clear and strong message, great sales skills and more" stated Bruner. "Think about your appearance, your service, your selection, your willingness to customize, your knowledge of the product, your connection to the community.”