Is A Cheap Attitude Crippling Your Retail Sales?

By Bob Phibbs

cheap attitude hurt retail sales

To improve your retail sales, you need to drop that oft-heard argument made by yourself, your friends and your family… That one is too expensive.

Yes, you could get a deal on a hotel room, discovering when you arrive that you are sandwiched between the ice machine and the elevator. Is the cheap price really worth it if you keep waking up to the clunk of the machine and the roar of the elevators?

Trust me, better things are expensive and worth it.

Produce you buy at Wal-Mart for cheap is not the same as what you’ll pay more for at the local farm stand.

Meat isn’t just meat.

There is a difference in driving a Cadillac or a Ford.

Choosing to buy a Robert Graham shirt is a far different experience than buying a leftover shirt at the outlet store.

The dry cleaner who charges $8 to carefully clean a shirt is better than the cheaper one who gives it back to you with missing buttons.

The pony pack of marigolds you purchased that has twice the dirt for twice the price means they have twice the chance of living through the season, and that all the work you put into planting them on that Saturday afternoon wasn’t wasted.

The most expensive item to me, is often the cheapest-priced one.

That's because if I have to replace it more often,

If I have to give up comfort,

If I have to compromise my time,

If it works at a lower level,

Or it requires assembly...

It means I’ve traded my own worth for a cheaper price.

And that’s just crazy…

If that's you, it often means you don't value your own self very highly.

Yes, when I was a college student I had to settle for shopping sales; I had to settle for a cheap car; I had to settle with furniture I had to put together.

And you may be an employee working your way through college, a single mom struggling to make ends meet by working several jobs, or a manager who can’t afford a lot of the high-end merchandise you sell.

You may be avoiding the higher priced items.

You may be unwilling to treat yourself to the best.

You may be thinking that price is the holy grail.

I have news for you, this thinking can be tripping up your ability to sell.

Because with that type of thinking, your own energy is probably only ignited when you point out only the items that are on sale. Or clearance. Or when rummaging through The Island of Misfit Items at the back of the store.

And that means you’ll sell the cheaper item – all the while telling yourself something is just as good.

When it rarely is.

Because you are driven by price, your best merchandise, the cheapest in the long run, the newest, and the ones with the more expensive price tag sit. You sell what you think the customer can afford because of the price, rather than helping them crossover to buying what they deserve.


My point to you

One of the biggest things retailers and their employees have to address before they can hit the heights with their sales is self-image.

If you don’t think you’re worth the price, and you don’t think they’re worth the price, your luxury items won’t sell.

If you can’t go through the process of silencing the cheap voice inside your own head, how will you ever relate to your customers to whom you are hoping to sell your best merchandise?

Think about it… have you denied yourself that dream cruise and settled for a quick trip to Vegas because it was cheaper?

Have you denied yourself that one perfectly fitting suit but settled for an off-the-rack model for a fraction of the price?

You get the idea...

In Sum

Today, look at your buying patterns, your inner dialogue, and your dialogue with your customers - especially as it revolves around price. Then see how you can remove it’s expensive from your vocabulary. Or if you find yourself saying that, make sure to add, but you’re worth it.

Next, find ways to justify paying more even though it’s expensive because you have discovered that it is worth the money.

Then you’ll be able to give your customers what they deserve... and not just what’s cheap.

You can sell expensive… yes, you can - once you allow yourself to buy expensive.

How To Train Your Employees To Sell

The 5 Shifts Brick-and-Mortar Retailers Are Making to Generate Up to 20% Higher Profits Every Month

Are you a hungry brick-and-mortar store owner who’s ready for a fresh, people-obsessed strategy? This training is for you if you want to grow your business using a powerful customer experience formula proven to make your cash register chirp.

I'm ready to win