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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Is it something that may go out of style, discontinued item or decrease in value somehow? Is it a unique item that they can only get from your store? It depends on how badly you need to move it.
Unless a model we carry was dropped or there was a new formulation our prices are staying right where they were. There are all different schools of thought. We've always based our prices on replacement cost and, previous exceptions aside, don't get into the practice of discounting because 1) there will always be someone who will go lower and 2) customers come to expect it. You can be higher priced, you just need to justify it. It's worked for us for 117 years now.