You Need to Price Everything In Retail | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

All you want to worry about when it comes to tagging and pricing shelves of products is does the customer know how much this costs? Nothing drives me crazier than going into a brick-and-mortar store, and I have to ask somebody the price. Just shoot me. I am not buying from you. I will go find anyone else.

"Oh, well, it's hard for us to price it." Get a price gun and price it, or do a shelf talker. I walk in there, I just want to know “What's the average price of something?” I want to have a sense ... I don't want to feel stupid. "Oh, that's $1 million. What an idiot you are," right? That's what the fear is. So, the more you can get rid of that fear, "I know how much this is," or you even say, "It's got a range," even that would be better, but I don't think you have to go overboard and have a shelf talker and a price on it. 

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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