Sales Slow Down? Raise Your Prices
Posted by Cynthia Boris
When sales slow, as they often do after the holidays are over, we often revert to the knee-jerk reaction of running a sale to encourage buyers to buy. But that mentality could do you more harm than good in the long run. And let's face it, fast cash is nice, but you should be in this for the longer haul.
Let me say here that there are perfectly good reasons to run a sale that have nothing to do with purchasing panic. The best reason is to clear out old inventory that is taking up room on your shelf or in your brain. It could be that you made too many of an item and you're tired of looking at them. Or you made a mistake - that shrimp scented candle seemed like a good idea at the time but now. . .