9 Pricing Strategies for Retail

“ The essence of strategy is choosing what not to do.” Michael Porter.

Pricing is one of the oft forgotten elements of new business, as when you are first getting started there's a focus on shifting any units at all being more important than shifting X number of units at $Y to account for Z, A, B C, which will ultimately allow you to put more staff on, increase output, take regular holidays, and retire to a small but tasteful castle in the South of France.

Your business is unique in some way (and if it isn’t, it should be), but when it comes to pricing there are a number of primary strategies you can look to implement. Whether you’re just starting out or have been in business for years, it doesn’t hurt to look at pricing with fresh eyes. A just because pricing at your place of work has always been done one way is no reason it should continue to be the case.