As a self-professed retail geek, I’m always noticing prices and deals that retailers offer. More than that, though, I notice what these prices really mean. What are you saying to a customer when you set the price of a product? It’s a good question, because you end up saying a lot.
Price is, of course, one of the central touchpoints of retail. But it’s a lot more complex than it seems. The customer wants to feel good about the amount they paid for their purchase, and while this can mean that they feel like they got a great deal, it can also mean that they feel like they paid a fair price for a premium product. If your customer feels like a high-quality product is priced too low, they might start to doubt the quality. Read more