Why Understanding the Value Of Retail Your Product Leads Increased Sales | Retail Today With Bob Phibbs, the Retail Doctor - Flash Briefing

Do you feel like a fraud when you're selling in your store? Well, today I want you to think about where does that come from because an awful lot of times people who have trouble selling really don't believe it's worth the money and so maybe you know how much you paid for something and then you see the markup and so you think, okay, well that's really bad. Except you haven't really thought about all of the other things that have to go into pricing, which is what happens when something breaks? What happens when we have to put it on sale for half off or 60% off or what happens when the trends change or that's my money sitting there and who's paying for all of that? So the first part of that is to think about, are you feeling like a fraud? Then I want you to think about, how do you find the answers? My tip for you today is talking to satisfied customers. Why did they purchase the item from you?

If you can get into their head, then you can get into your game and ultimately not feel like a fraud, but realize I'm selling the best product I can at a fair price and the person who wants it is going to pay it. I just have to get over myself.

If you love what you heard on Retail Today, connect with Bob by visiting retaildoc.com or send a message to bob@retaildoc.com. Thanks for listening!