To read more about how to be found by local shoppers, click here.
How easy is it for customers to find you online?
When you open an online store, attracting traffic or site visitors is very different from attracting foot traffic to your physical store. In fact, it can be even harder for shoppers to find you because there isn’t an equivalent to “street traffic” online. If you have a new online store that does not rank online in search results, would-be shoppers would need to know the exact website address to be able to find you.
This is why it’s common for a new web store to receive very little traffic in the beginning without any marketing. This is particularly true with brick and mortar first retailers as established stores often start online stores as secondary channels or even just as online catalogues. And even though the current COVID-19 crisis has driven many shoppers online, being found is still an issue when your web store is new. In order to get regular customers and traffic to your site, it’s going to take some effort on your part to promote and market your online shop.
Below you’ll find some easy and cost-effective ways to start promoting your online store to both new and existing customers.
Adding live chat to your online store allows you to chat directly with your website visitors in real-time. It’s a must-have tool for any online retailer as it’s one of the best ways to answer customer questions right when they are on your site and encourage immediate sales.
Instant messenger applications such as Facebook Messenger make it easy for retailers to add live chat to their site and take advantage of its many benefits. After all, millions of people already communicate through Facebook Messenger daily, presenting a huge market for retailers to tap into. Additionally, many e-commerce software providers (including TAKU eCommerce) offer direct integrations to Facebook Messenger – for free!
Click here to find out more about adding live chat to your TAKU online store.
The following are some of the ways your business can benefit from adding live chat to your website:
Reduced expenses: Traditional customer service and support teams usually operate via phone. But this can be costly – in terms of costs per employee and toll charges. For smaller retailers especially, a free live chat platform such as Facebook Messenger can help reduce costs substantially.
Increased sales: According to a study done by CrazyEgg, 38% of customers are more likely to buy from a company that offers live chat support.
As a retailer selling online, the best way to gain subscribers and have your emails stand out is to use email automation. For those not familiar with email automation, these are marketing tools that allow you to send out targeted messages at certain times or based on specific actions. For example, you can create email campaigns that automatically remind customers of the products they were interested in, encourage shoppers to buy products that they added to their online shopping carts but didn’t purchase (automated abandoned cart emails), or simply thank them for being loyal customers.
Basically, automated email campaigns give you the ability to use analytics to create an individualized email for each of your customers. And the benefits are numerous; you can encourage the first purchase, increase loyalty and drive repeat purchases, and re-engage inactive customers. As a result, you build personalized relationships with customers while increasing your revenue.
3. FREE Google Shopping listings
In light of the COVID-19 outbreak, Google just recently announced the launch of unpaid Product Listings. Beginning on April 27th, 2020, U.S. retailers will be able to sell on Google for free with Google Shopping. While it will initially launch in the States only, Google does have plans to expand this globally before the end of year. Click here to learn more.
Google Shopping Ads have proven to be one of the most effective ways to drive e-commerce sales. The ads appear above organic search results in Google and consist of a product image, rating, price, and store information. To learn more about Google Shopping, click here.
They have become a popular option for many ecommerce merchants and for good reason; they have a 30% higher conversion rate compared to text only ads. Below are some of the key benefits of Google Shopping:
Attract better store traffic: product ads are displayed based on the keywords a user searches for. For example, if a user conducts a search for “pet food”, Product Listings of pet stores will be shown. If a user isn’t interested in your products, your ads won’t be displayed – which brings us to the next point.
Higher ROI: Google Product Listings have a higher conversion rate due to the fact that they drive relevant traffic. This means more relevant traffic to your online store at a lower cost per click.
Stand out: Google Product Listings instantly grab the attention of users as they are the only ads in search results that contain photos.
Broad reach: Multiple products can appear under a single search which means more exposure for your store and products.
4. Selling on Facebook and Instagram
Facebook and Instagram remain the most popular social media platforms with both applications amassing billions of daily active users. Taking advantage of the popularity of both social media channels can help you reach new customers and sell more.
Think about it this way: your customers are already on social media. Adding a way for them to browse and purchase your products directly on each platform gives your brand increased visibility. And it makes it easier for shoppers to buy your products – all they have to do is click on the “Shop” or “Store” tab to view your products.
It takes just a few clicks to start selling on Facebook or Instagram with TAKU eCommerce. Click here to learn more.
The following are some ways you can drive more traffic to your store with Facebook Shop:
List store details such as your store address, phone, website, temporary service changes etc. This makes your business more accessible because it makes it easier for potential shoppers to find your business when they search Facebook.
Share content about your online store including special offers, new products, contests etc.
Use Facebook Ads to target a specific type of shopper, build brand loyalty, and increase your online sales.
Basically, retargeting is a form of online advertising that targets users based on their past behavior on your website. Chances are, you’ve been exposed to retargeting ads yourself at one point or another. For example, after browsing through some clothes online you may have noticed ads popping up on your social media advertising the specific clothes and store you were just viewing.
Retargeting ads are very effective at encouraging shoppers to “finish” their sale and generally cost less than regular social media ads. But it’s important to remember that they are only effective if you are already receiving a reasonable amount of website traffic as they will only be able target people who have already visited your online store.
The most popular methods of retargeting include using the Facebook pixel or Google Adwords. The Facebook pixel is essentially a small software code that “follows” your customers as they browse your online store and allows Facebook to advertise to them after.
You can start retargeting in minutes with TAKU eCommerce’s built-in integration with the Facebook pixel. Alternatively, you can download the retargeting app for Google and Facebook. Learn more here.
If you prefer to target customers using Google Adwords, you must add Google Analytics to your store and connect it with your Google Adwords account. Learn more here.
6. Optimize the checkout process
Retailers who are looking for ways to increase their online revenue often overlook the importance of checkout optimization. But in order to reduce checkout abandonment and improve your conversion rate, it’s important to create the best checkout experience possible.
The following are some ways to create the optimal e-commerce checkout experience:
Optimize the checkout experience for mobile: The majority of online shopping is done on mobile devices. When you are developing your layout, ensure your design is mobile-responsive. If you are not design or tech savvy, consider choosing an e-commerce provider with premade layouts. All of TAKU eCommerce’s pre-made themes are mobile-friendly but whatever platform you are using, make sure to always check your website on every device (desktop, tablet, mobile) once it’s published to make sure everything is re-sizing correctly.
Add custom messages at checkout: Display any important information to your customers at checkout. For example, you can draw your customers’ attention to special offers, remind them of your shipping/return policies, remind them that they will receive an email confirmation, etc.
Be transparent about costs: Unexpected costs are the number one cause of cart abandonment in the online shopping world. Make sure to provide as many details as possible by including a subtotal, shipping fees, applicable taxes, and a final order total.
We hope you found this article helpful.
Keep an eye out on our blog for more e-commerce marketing tips and strategies.
In the meantime, learn more about how you grow your retail business online with TAKU eCommerce.
The COVID-19 crisis has been traumatic for merchants and shoppers alike. With so many cities, regions and countries under lockdown, normal shopping routines have been disrupted. Many small businesses have adapted to offer alternative ways to shop from phone or chat orders to full online stores with curbside pickup and delivery.
Here are a few steps you can take to make sure local shoppers are aware that you’re open and let them know how they can support your business.
1. Update your Existing Customers by Email
If you’ve been collecting customer emails or regularly send out email newsletters, make sure to update your customers about updated store hours and new ordering methods. Email is often the easiest way in which to quickly communicate with your most loyal customers. Make sure to use an email marketing tool such as MailChimp so that customers can unsubscribe as required by privacy regulations.
2. Update your Google My Business (GMB) profile
One of the easiest and most effective ways you can communicate with your customers is by updating your Google My Business profile and other popular online local directory listings.
At a time like this, your customers are looking for updated information on your business operations. Google and Google Maps are often the first place that shoppers go to look for this information and so, your GMB profile needs to be accurate.
For example, if your hours of operation have changed because of Covid-19, you are temporarily closed, or are offering curbside pickup, you can update your GMB profile to reflect these changes.
Here are a few tips for providing the most accurate information to your customers:
Let people know if you have changed your services (e.g. if you are now selling products online through e-commerce or marketplaces, offering curbside pickup etc.)
If you are able to sell online, make sure you link your GMB profile directly to your online store to avoid shoppers missing your products.
Update your business hours & ensure phone number accuracy
Share any precautions your business is taking (in relation to cleaning and sanitizing products, new procedures, employee policies)
Stay connected to your customers by downloading the Google My Business app and turning on messaging. This way, it will be easier for customers to reach you.
In light of the COVID-19 outbreak, Google My Business has also released new features to help merchants communicate with their shoppers about updates pertaining to their businesses. These updates include:
The ability to mark a business or location as temporarily closed
You can add COVID-19 updates via GMB Posts in order to share timely updates about how your business is responding to the outbreak. Google has even created a tool for you to create free customized marketing materials. If you already have a verified Google My Business account, just visit https://marketingkit.withgoogle.com/ and type in your store name and easily customize the designs.
While it does not pertain to retailers, restaurants and quick service businesses can also specify new attributes such as takeout, dine-in, and delivery.
3. Get Added to Local Directory Listings
Other local directory listings also provide important information about your business to potential customers. Simply put, adding your business and maintaining updated listings in as many directories as possible will make it easier for customers to find you online.
So if you haven’t already, consider adding your business to the following online directories:
In response to the COVID-19 outbreak, we’ve developed SupportRetail as a free tool to help connect local businesses to shoppers in the area who are looking for products that their business sells.
Getting listed on these directories helps your business increase your rankings in search results and reach more local shoppers. And the best part is that most of them are free to use and they generally only require a few steps to get set up!
4. Update your Social Media
Social media is one of the most useful channels for communicating and connecting with shoppers. Sending customers constant updates via email or SMS can backfire during these stressful times, whereas social media has proven to be much more accessible. Leveraging social media channels such as Facebook, Twitter and Instagram is key to a good communications strategy.
Here are a few recommendations when it comes to communicating with shoppers via social media:
Update your store on Instagram, Facebook or Twitter to let shoppers know how your services have changed. This includes updating your store hours, contact details, and how your business is responding to the current climate.
Make sure to link the Facebook, Instagram or Twitter pages for your business directly to your online store as you want shoppers to land directly in your webstore and see products when they click through.
As you can see below, Facebook has also added a special feature that allows business owners to specify how their services have changed in response to COVID-19.
Update your store’s Facebook Page to let shoppers know how your services have changed. This includes updating your store hours, contact details, and how your business is responding to the current climate. As you can see below, Facebook has added a feature that allows business owners to specify how their services have changed in response to COVID-19.
Share credible and relevant information: There are a few things that customers want to know right now. Is your store still open? If not, are you taking orders via e-commerce? How can they contact customer support? What measures are you taking to protect your employees? How are you supporting your local community? What can your local community do to serve you?
Help uplift your community and customers: In addition to keeping your customers updated, be helpful and courteous. Remember, the way you respond to this crisis is a reflection of your brand and company values. Your social posts and promotions need to reflect what is going on in the world right now. Otherwise, you risk coming across as tone-deaf or less credible.
5. Update your Website
Think of your homepage as a digital storefront. Your customers will use your homepage to find any promotions, navigate to product pages, find updates about your business etc.
Remember: If you are using the TAKU eCommerce WordPress plugin, you will need to link your e-commerce store to your existing navigation menu. Otherwise, your customers will not be able to get to your webstore from your website menu.
Consider having a banner or a section on your homepage that shares important information and updates about how you are responding to the current situation. For example, let shoppers know that you are offering curbside pickup or delivery options, updated customer service contact information, how customers can support you by purchasing gift cards, etc.
Note: Make sure to keep the most up-to-date information at the top of your message as you add new features and remove any outdated information. Customers may be shopping online and may not scroll to see messages further down the page.
6. Do a quick online search
Once you’re published, make sure you do a quick online search of your store to see how you rank in the search results and to make sure all of your links are updated. If you have any old or outdated links that have permanently changed, you can look into doing 301 redirects to get them automatically directed to the new URL addresses. If you’re not familiar with 301 redirects, you can ask your website administrator to assist.
While your physical doors may be closed, that doesn’t mean you can’t be open for business. You can still serve your customers by shifting your business online and offering curbside pickup and delivery options. To help you make the transition, TAKU eCommerce is offering a free trial until July 1st, 2020. Click here to learn more.
We hope you found this article helpful.
Keep an eye out on our blog for more e-commerce tips.
For more information on TAKU eCommerce, click here.
The best part is, you don’t have to be in the chocolate or gift industry to win the hearts of consumers! Keep reading to find out how you can take advantage of the record spending expected this Valentine’s day.
3 Ways to Increase Store Sales this Valentine’s Day
1. Add a Valentine’s Day section to your store and website
Valentine’s Day is infamous for being a last minute holiday. So, to make it easier for last minute gift buyers and shoppers, place all of your Valentine’s Day related merchandise in one section of your retail store and website.
If you own a physical retail store, dedicate a corner of your store to Valentine’s day so busy shoppers can grab and go. Consider creating a vibrant point of purchase display with Valentine’s Day colours (see the example below). Making use of signage to guide shoppers towards deals and merchandise will also help make the shopping experience more convenient.
With more and more shoppers browsing online before purchasing in-store, it’s also good practice to dedicate a section of your website to Valentine’s Day – regardless of whether or not you sell online.
Have a look at what Mejuri is doing for Valentine’s Day below. The retailer devoted a whole page on their website to Valentine’s day and even created a gift guide for shoppers.
2. Create a retargeting strategy
Selling to existing shoppers is easier and more cost-effective than acquiring new ones. So, consider retargeting shoppers who have made purchases at your retail store during the holiday season.
To target these shoppers, you can create an email campaign to inform them of your upcoming Valentine’s Day promotions. It’s also a good idea to create a Valentine’s Day gift guide to include in your email campaign.
In addition to email, running Facebook Retargeting Ads is an effective way to connect with shoppers. Facebook even gives merchants the option of uploading an email list when running retargeting ads.
You don’t need a crazy budget either – retargeting ads generally perform well with a small budget of $10- $15 a day.
3) Find a Valentine’s Day angle
Not in the chocolate or jewellery industry? That’s ok – you don’t have to sell Valentine’s Day related items to capitalize on the holiday.
You can always find a unique angle to sell your merchandise. For example, Apple found a brilliant way to position their products for Valentine’s Day, using the slogan “Love is in the Air” to promote the iPad Air.
And remember – about half of consumers will not be celebrating the holiday. Rather than alienating this customer segment, cater your marketing message to single people by encouraging shoppers to treat themselves.
For example, Mac is a retailer that recognizes the power of self-love as a marketing tool. In anticipation of Valentine’s Day, the retailer sent out an email campaign encouraging shoppers to treat themselves for the holiday.
Happy Valentine’s Day retailers! And happy selling!
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As a retailer, you’re bound to experience high and low seasons.
Periods of slower sales can happen for many reasons such as natural seasonality (e.g. Halloween supplies), the weather, or competitive promotions. Whatever the reason for your slump, it’s important to view your off-season or slow periods as a potential opportunity.
Low seasons are actually the perfect time for retailers to focus on their marketing efforts. With a little bit of creativity and planning, you can make it through your off-season with not only more new customers, but a larger base of followers to promote to. And who knows, you may even find a new revenue opportunity in the process!
Keep reading for 3 strategies that you can use to keep your retail business profitable during your slow periods.
Why an off-season marketing strategy is important
There is a common misconception that businesses should only invest in marketing during their high season. But this isn’t the case. Your slower seasons are actually the time when you need the sales lift from marketing!
In particular, an off-season marketing strategy is key to:
Building local and online awareness: Knowing is half the battle. Shoppers don’t know what they’ve never seen. Marketing during the off-season gives your retail business time to build online presence and brand awareness with target shoppers. You can educate customers on what your store has to offer and how you are better than your competition. This way, once your peak season hits, you will be top-of-mind with shoppers.
Minimizing your overall marketing costs: Ad spend decreases during the off-season as less competitors are bidding on ad space. This means that you can get more exposure at a lower cost versus advertising during your high season.
Getting ahead of your competitors: Besides getting new shoppers in your door, marketing during the off-season also gives you the opportunity to start building your own mailing lists or followers. This is particularly important as you need time to attract a following of people interested in what you offer. But by starting earlier than your competitors, you will be ahead of them by having a new list of potential shoppers that you can market directly to during your high season.
3 marketing strategies for the off-season
When we’re talking about marketing, we are specifically talking about digital marketing. While traditional marketing has its place, for most privately owned businesses, digital marketing offers the easiest way to promote your business, especially during your off-season. After all, today’s average shopper now spends more time with digital content than traditional media.
With so many people basing their purchasing decisions on reviews, gathering reviews should be a key marketing strategy for your business all year round. But the off-season is usually the best time to ask loyal and long term shoppers to leave a review on your Google My Business (GMB) profile, especially now that you can create a GMB shortname unique to your business. You can then use customer reviews as promotional material across all of your digital platforms including your social media and store website. By staying active online and promoting positive customer testimonials, shoppers will remember your retail business when peak season hits.
2) Consider paid marketing options
Digital marketing benefits retailers of all sizes as it is always the fastest way to cost-effectively access an incredibly targeted audience of shoppers. The advantages of digital marketing include:
Fast impact: Compared to traditional marketing, paid digital marketing will make an impact much faster. Depending on the type of campaign, you can get up and running in minutes.
Flexible and accountable: The results of digital marketing are much easier to see so you can immediately know whether a campaign is working and make changes right away. This is a major difference from traditional marketing where your investment is a one-time deal since you can’t make changes once a flyer or a radio ad is printed or produced.
Lower overall cost: A well planned out digital marketing campaign can reach a targeted audience at a much lower cost (as long as $10/day) than traditional marketing methods.
Click here to learn more about the benefits of digital marketing for retailers.
Sephora, Canadian Tire, and Williams-Sonoma are some of the big box retailers who have seen success with Google LIA. Now for the first time ever, Local Inventory Ads are also available to independent retailers who are looking to attract local shoppers. And the best part? They are available in an automated way that doesn’t require retailers to hire new staff or keep inventory stock levels updated.
To learn how you can easily implement Google LIA together with your POS system, click here.
While Google LIA has proven to be a viable marketing strategy all year round, it is particularly effective during off-season for the following reasons:
Bids are lower: As mentioned above, there are fewer competitors buying ads during off-season – which means lower ad spend is required to gain impressions.
Marketing costs are minimized: LIA only showcases in-stock product and will automatically turn off when stock runs out, reducing your marketing costs.
Get in front of local shoppers who are actually looking to purchase your products: Google LIA displays in-stock product to shoppers within a certain Km radius (you have full control over the geographical range) who are actually searching for products that your store sells.
3) Promote your business on social media
With the rise in social media and e-commerce, shoppers are closer than ever to retail businesses. Not only do you have a way to directly showcase your products and store, you can now build up your list of followers for personalized offers.
While websites are still a great way to offer a “digital window” into your store, with the rise in social commerce (e.g. Facebook Shops, Instagram Shopping, etc.), it’s very important for retail stores to be active on social media.
Check out these 6 tips to help you grow your social following more quickly during your low season:
Make sure you have a verified Google My Business (GMB) account and are active on it. GMB is one of the best free online marketing tools available for small businesses today. Not only does GMB help local shoppers find you on Google Maps, it has options for you to post content (e.g. special offers or events) which improves your SEO.
Improve your content design with cost-effective graphic tools. You don’t need to be a designer to use drag-and-drop tools such as Canva that even have free versions.
Use original images for the best results as these rank better on SEO.
Don’t forget to include the links to your social media accounts on email signatures, invoices, receipts, ads and on any window displays.
Clearly display your social media links at the cash register and train your staff to encourage shoppers to sign up for special offers while they are waiting.
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Seeing as the Christmas season is the largest shopping event of the year, the stakes are high for retailers. And while there may not be a one-size fits all approach to achieving holiday retail success, there are tried and tested strategies that will help steer you in the right direction.
We’ve put together a list of time-honored tips to guide you through the Christmas retail rush so you can boost your store sales and have a successful holiday season.
Check them out below!
How to Increase your Store Sales this Holiday Season
Not only does a unique and compelling holiday window display help you stand out from competitors, it also drives foot traffic. In fact, window displays act as a silent salesperson or a billboard for your retail business – they entice passersby and nearby shoppers to enter your store. The right window display will turn the heads of shoppers so your sales associates can close the sale.
Good lighting, bold shapes and colours, and creativity are all essential elements of a compelling window display. Incorporate your merchandise into the display by focusing on how it makes the perfect gift for a loved one, how your products are ideal decorations for a Christmas party, or how your clothing would be great to wear at the office holiday party etc.
Offer Free Gift Wrapping
Offering gift wrapping services is a great way to earn customer loyalty. Convenience is a big selling point during the holidays and shoppers always appreciate businesses that can help them save time and effort.
Free gift wrapping can even act as a competitive advantage for your retail store. Shoppers will be compelled to buy from you instead of your competitors. And in may cases, they will see your store as the perfect place to go for last minute gift shopping.
It’s a good to idea to pre-wrap certain quantities of popular merchandise. Also, consider displaying smaller gift baskets at checkout so shoppers can easily add to their orders.
You may worry that offering promotions throughout the holiday season will eat at your margins, but an increase in traffic and sales will most likely make up for it. Offering numerous promotions throughout the month of December is a good way to build hype and keep customers coming back.
Here are some things to keep in mind:
Offer big discounts (30%-50%) throughout the month: if you sell big brand or well known merchandise, this strategy will work especially well for you.
Offer BOGO deals: studies have shown that offering something for free is oftentimes more effective than a discount.
Have exclusive offers for VIP customers: This gives you more control over your margins and at the same time, allows you to build a loyal customer base.
Remember to make use of social media and email marketing to advertise your promotions! It’s always a good idea to put up sales signage (banners, decals, window signs) so that nearby shoppers can become aware of your discounts.
While a BOPUS strategy provides shoppers with a ton of convenience and flexibility, it comes with it’s fair share of benefits for retailers too, including:
Increased rates of impulse purchases
Lower return rates
More foot traffic
Decreased shipping costs
Satisfied and loyal shoppers
For retailers who do not have an e-commerce site, Google Local Inventory ads are a great way to drive shoppers to your store with BOPUS offers. Click here to find out how your retail business can easily implement Google LIAs.
Google Local Inventory Ads (LIA)
During the days that lead up to Christmas, Google searches with local intent increase. This is likely due to the fact that shoppers are reluctant to depend on online retailers/shipping and would rather go in-store to purchase gifts.
Loss leaders in retail are items or merchandise that are offered either at a significant discount, at minimum profit margin, or sometimes even below cost to entice shoppers to make a purchase.
This pricing strategy has been used by many big box retailers and discount stores to encourage impulse buys and has been met with great success.
Simply put, the intention behind this marketing tactic is to bring shoppers in-store and once they’re there, encourage purchases of higher margin items to make up for the profit lost on loss leaders.
Examples of Loss Leader Pricing
You have probably encountered loss leader pricing more often than you would think while shopping. Can you think of a sale that seemed too good to be true? Your local grocery store may have been selling eggs at a steep discount or your favorite clothing brand may have sent you an email advertising their sweaters at a ridiculously low price point.
These deals may have you thinking “there’s no way that the retailer is making any money on these items”. And in most cases, you’re right! Let’s take a look at some common examples of loss leader pricing in retail.
1) Grocery Store Staples
Grocery store staples such as milk, meat, and eggs work really well as loss leaders. Because they are regularly bought commodities, discounts and low prices are sure to attract shoppers. These items are strategically placed at the back of the grocery store to promote impulse purchases. Because shoppers have to walk to the very back of the store to purchase these staple goods, it is likely that they will be enticed to purchase other items as well.
Printers are also commonly used as loss leaders to encourage shoppers to purchase complementary items like ink and printer paper. While printers are often sold at or below cost, the price of ink is extremely high. Loss leader pricing is used to get shoppers to purchase the printer, and create the demand for ink which again, is relatively expensive.
3) Gaming Consoles
While the price of gaming consoles may seem high, they are actually sold at or below cost. For example, Microsoft Xbox gaming consoles are strategically sold below cost to encourage consumers to buy higher margin video games.
The Pros and Cons of Loss Leaders
1) Sell Slow Moving Inventory
If you have a slow moving or overstocked inventory item, choosing to price it as a loss leader can help you move it faster. This will result in more shelf space, less inventory, and an increase in cash flow.
2) Promote Complementary Items
Strategically choosing your loss leaders can help you increase sales of other items in your store. For example, let’s say you’re looking to increase the sale of a certain brand of women’s razor blades. In this case, you would price the associated razor as a loss leader. Once consumers buy the razor that complements those razor blades, they’ll have to come back to purchase the blades as well (which you can choose to sell at a higher margin).
1) May Hurt Your Brand Perception
Drastically discounting items can affect how consumers view your brand. Many shoppers associate lower prices with poor product quality. And overusing loss leader pricing can give consumers the wrong perception of your retail store. Remember people want high quality merchandise at good price points, not garbage.
2) You can Lose Money
There is risk associated with loss leader pricing – which is why you must closely monitor sales of complementary products and of the loss leaders themselves. There is a chance that customers will only purchase the loss leader itself in high quantities. Meaning lower or no sales of complementary, high margin items which results in less profit for your store overall.
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