If you're putting signs like this outside your store, your business is probably in trouble.

They think it says: "Buy from us: we're cheaper."

I think it says: "We charge full Recommended Retail Price for everything. Go shop at Borders with the 30% discount coupon they email you each week. They're cheaper."

Try seeing things from your customer's perspective.

Postscript: I was right, I was wrong. The day after I wrote this, the book industry collapsed, with Borders USA filing for bankruptcy, and two bookstore chains in Australia going into administration. However, Borders was one of those chains, while Dymocks has still survived. Maybe the lesson here is that if you price your books high enough and don't engage in price matching and discounting wars, your business is more likely to survive difficult times.

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16 February // ©2011 Kohan Ikin.