{Sponsored} As a storeowner, you know the ease of online shopping is a double-edged sword. Sure, it’s convenient, but for business owners, the underbelly of counterfeited products, price discrepancies, and showrooming, replace the thrill of finding a sale with the disappointment of losing one. The main culprits are usually on Amazon or eBay, selling the same product you are for less.
These retail giants hijack MAP pricing, leaving you with inventory that’s difficult to move because you’re selling at the actual price. Your overhead costs don’t allow cutting margins to compete. And if sales continue to decline, you’re less inclined to take buying risks that might differentiate you and pay off down the road.
We call this scenario L.O.S.E. – the Loss of Online Sales Effect.
Admittedly, L.O.S.E. is a problem we at The Grommet face as well. This may seem strange coming from an online retailer, but we consistently fight price discrepancies and markdowns to remain competitive. As do our Makers.
So what are we doing about it? Our Business Intelligence team actively monitors price differences and slashed prices on those big-box e-retailers and works to ensure Makers, and thus you, are not losing control of price points. We’re all equally invested in price protection.
We are also trying to help arm you against showrooming—the practice of customers walking into your store, seeing, holding, and testing the product, and then buying it cheaper online. The videos and stories we create for each product give you a story and relevant information that can create a connection with your customer and remove the need for them to look for the same product online.
You don’t have to try hard to imagine a place you can go to stock your shelves with innovative, unique products where prices are actively monitored and protected—with the goal of your customers shopping in your store rather than online. That place is The Grommet Wholesale.
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Sponsored by The Grommet; view original article
