Quote:
Originally Posted by Kuan
Is there? Say I have a $100 item in my store. It didn't sell this year. Is there a rule of thumb as to how much I should discount it?
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When I worked retail, we would advertise some incredible sale, like a "Once in a Lifetime Summer Blowout" for instance...then markup the slow-moving $100 item to $120, advertising it as 40% off (formerly $200)!
That item would literally disappear from the floor within minutes!!! And this tactic worked nearly all the time!!!
The ability to do price comparisons on the internet (non-existent back then) kinda levels the playing field, but many retailers still pull that stunt...