December 5th, 2013 by Alan Yu
Today I was visiting some stores that I haven’t shopped at just to get a feel for the prices and the type of products that were offered. At first it was hard to tell which items they had on sale as stereotypically I would expect huge signs or ones with bright colours to make them stand out. In these cases they used terms such as “price cut” to indicate that these are the items they are currently offering for a discount.
I was the thinking of all the other terms that other businesses use. For example, manager specials, rollbacks, deals of the weeks and so fourth. It’s almost like when you are shopping in various stores you have to learn about the culture and its terminologies as well in order to understand where all the best deals are. Otherwise you are essentially just paying close to retail suggested prices for everything. Basically, one stores use of the word “sale” may not mean the same as another. The good thing is this is something you can learn in like five minutes just by doing a quick walk down the aisles.
December 4th, 2013 by Alan Yu
I had an interesting scenario today where I went to various stores as I wanted to find a place where I could direct people to purchase various items and of course I want to help people find the best deals. So for this one store I saw a great deal and as a result I wanted to verify if the deal was on as well as them having stock. For some reason the system recognized the promotion but it would always crash the computer when the staff tried to scan the deal. Initially people thought it was an online offer only.
Afterwards the person mentioned how all they would need is the bundle sku for the offer where they can then manually enter the order. However, the person didn’t know this off hand. Instead of trying to search for it she was mentioning how it would probably take too long to find it. So, I simply had to cross this place off my list of recommendations. I was thinking too they probably lost thousands of dollars in sales because of this.
This is one of the scenarios where I would say it’s wise to take the time necessary to help each customer because as a business you never know how much revenue that one person can bring to you. I was even taught before that you shouldn’t ever stereotype who the “big” spender is going to be for you to invest your time with as you never know how that person will look. Therefore, you need to simply treat everyone with equal importance or it will simply be an opportunity that will go to someone else.
December 3rd, 2013 by Alan Yu
In most cases when you want to do a price match a lot of businesses require you to show some kind of proof in the form of an advertisement or even a website from a competing business that displays the exact same item for lower price. A lot of times too a company is willing to simply phone in to the other business to verify if the price is accurate and whether or not there is stock available.
One thing I have noticed people doing a lot more is simply getting scanned receipts from other people who bought products at a very good price as proof that the item was sold at the price. Interestingly enough, for a lot of businesses that is good enough proof to then offer that person the same deal. In many ways it surprises me that it would even work as a lot of company policies clearly state it has to be an advertisement for example and that the item must be in stock.
This could simply be a case by a case basis too of some stores simply having managers that are more open to wanting to compete with other businesses as much as possible. Either way, it’s another option to show the business proof of a competing store price in hopes to get you the best deal.
December 2nd, 2013 by Alan Yu
I was happy to hear this today as awhile back a friend was telling me how he was getting a little disgruntled at his workplace as he wanted to grow in the company but it seemed like he would always get answers such as there are no opportunities available or that they felt he was in the best position for him at the moment. His story was typical too how he did pretty much anything the company asked for and more without technically getting compensated more.
The funny thing was all I recommended he do was ask them to document their promises first before he would go out of his way to do the extra work. For example, if they say doing various work will result in a promotion in like three months then request that be on paper as opposed to just basing it on words. Sure enough, at first when he did that they stopped expecting him to work more than what he was supposed to do. As well, when it came down to it the business really did need his help to maintain the operation. Sure enough after, they gave him a written agreement that he would be guaranteed a promotion after X amount of time, which he did get.
You expect this kind of thing to only take place from like two entrepreneurs usually, but even in an employee setting you need to be firm and have some kind of verifiable guarantee that the extra work you are putting in will result in the rewards that the business claims I feel if you are serious about growing with them. Otherwise in like this case my personal hunch was they simply wanted to keep him where he was as it seems like the safest thing to do in terms of having a reliable employee for the business for that specific position. A common scenario too is that a manager needs to make themselves look good for their personal growth and promoting people like that could be a bad thing for them as that means they have to find a new reliable candidate. You need to look out for yourself too.
December 1st, 2013 by Alan Yu
I think this was kind of odds as I was told how there was a person who was adamant about buying an item across the border where the initial price of the item was cheaper. However, when you add in all the fees of getting it across the border such as having to pay duty on the item it pretty much results in the same price. Apparently he was still adamant about shopping this way though.
Apparently the main logic about it was that most of the time the prices are cheaper even with duty fees and if it does end up the same then it is no different. The main thing is that this way he is keeping in-tune with prices in say the US where this increases his odds of getting better deals that he wouldn’t have known otherwise due to constantly looking at local deals which he felt were always more expensive.
In some ways it make sense. At the same time, I personally find it silly when people do this for things like groceries. For example, I have often seen news reports of people going south of the border to simply buy some milk because it is cheaper. I would imagine the traveling back and fourth for everyday items like those would actually cost you money in the long run. I think it is a good idea to stay in-tune with both. However, shopping local helps me to save more overall. I think the big thing is you need to stop only comparing big box stores or large chains and really explore your local and small businesses as well.