How to Sell Value Over Price | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

When people are trying to build sales, they always tell me they need to lower their prices, and I'm saying, "No. What you need to do is to be able to have your employees be able to challenge people's perceptions." An example I always use is garden hoses. You go into a home center and there they are at $9.99 and then there are others that are sitting there for $50 and $75.

And the problem is that somebody walks in and the sales rep says, "You need a garden hose. They're over there," and the guy will get the cheapest one. The problem is the cheapest one builds up steam and is heavier than lead when you try to drag it around your house. The more expensive ones need the ability to have somebody challenge their perception. You could buy a cheaper one, but when it gets hot out, the steam is going to build and it's going to rupture and it's going to be heavy to lug around with all that water. Wouldn't you rather have this lightweight one, which will hold up for many seasons because in a lot of ways it's the cheapest hose we have?

Today, I want you to be thinking about, don't equate price with value. Value is different, and that's what you're selling.

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If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to bob@retaildoc.com. Thanks for listening!

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