Series  |  Briefs  |  Quick tips  |  Basics  |  Other
Retail  |  Marketing  |  Products & Pricing  |  Other

Set Your Stall Right (Amazon at the 2016 Target Trade Show)

Posted On - 01/08/2016 08:26:47

In Great Britain 22.5M (86%) households have internet accessIn Great Britain 22.5M (86%) households have internet access.

78% of adult Brits are on it almost every day. 61% of them are on social and over three quarters of them are buying stuff.

And the ongoing proliferation of WiFi hotspots and 4G means these numbers will only go up.

Just imagine if you had a website you could tap into all that.

More, if you had an online business you could sell to it every hour, every day. All you need to do is set your stall right.

Just do it

There's no doubt small IT businesses should have a decent website. In ‘Where Are You?' we set out why.

But things change dramatically if you want to sell online.

It's one thing to have a presence so people can find you – when people want a local IT business. It's another altogether when they're buying.

One's all about looking: who are you, what do you do, where you are and how to call? The other's about spending money. That's more than just whether you stock what they want. It's about whether they can trust you. For that you have to set your stall right.

Value equivalence

Ever heard the phrase, "buy cheap, buy twice"? Do you expect things ‘high-end' to be expensive? Now it may feel customers won't pay for quality but they know there's a link between what you pay and what you get. That if something's 'better' it's likely to cost more. The haggling's just about the best deal for the value.

So, here's a question: are you better or worse than PC World? Better, yeah? OK, another question: if you are why aren't you more expensive than them? Now that's got you thinking!

But what's this got to do with the web? Simple: the web is defined by ‘low' pricing. It's probably the 'best' thing it's known for. And unless what you're selling's scarce, joining in is the only way you'll be successful.

Your problem is reconciling and explaining how on one hand you're a high quality expert and on the other a low price online retailer. That's some balancing act. You have to set your stall right.

Price comparison

The really thorny issue amongst all this is differential pricing. It's the difference between your prices face-to-face and online. You can't hope people won't notice differences - they will. So how will you explain it when they do?

The impact of differential pricing is no small thing - the repercussions can be huge. Get it wrong and you'll find shop prices forced down and a dodgy reputation come real quick. You don't want them do you?

Customers don't care shop stock should cost more than online. Premises and staff costs are your problem! Selling online isn't as straightforward as you may think. You have to set your stall right.

Please tell us why you dislike this blog article?
Display Name:
Email Address:
Post comment?
I accept the terms and conditions set out here
Comments:
Post Cancel
Archives
February 2018 (1)
January 2018 (2)
December 2017 (2)
November 2017 (4)
Earlier (301)
Contact Us
Like what you've read? Then why not sign up to the Shop Talk newsletter?

Have ideas or want to discuss them further? Don't understand what's been written and need some explanation? If you want to talk, for whatever reason, we're happy to as well.

The best ways to find us are by email or by mobile:

01977 282 300 & choose option 5

Alternatively please call 01977 282 359 to speak to a member of our ShopTalk team


You have already signed up to the Shop Talk mailing list

Shop Talk: The only blog for small independent IT retailers and businesses

It's FREE. Join the Shop Talk community and get advice on how to build a better business.

Contact Name: *
Email Address: (privacy policy) *
What's your greatest Business Challenge?
New to Target?
Interested in our TRADE ONLY deals?
Yes No *
 
Please type the characters from the image shown



 

Thank-You!

You will receive a confirmation email, please click on the link to confirm your email address.

Thank-You!

You have now been added to the Shop Talk blog news mailing list.