replies (week 3) - I think that this strategy employed by retailers hits the nail right on the head Very rarely do people stick to their very

replies (week 3) - I think that this strategy employed...

This preview shows page 1 out of 1 page.

I think that this strategy employed by retailers hits the nail right on the head. Very rarely do people stick to their very specific list of groceries. More often than not, I find myself deviating from my list when I run into the store for a ‘couple of items.’ Retailers more than make up for revenue lost on their lure (the low priced items). And, in addition, I believe that people are more likely to spend money on other things in the store if they feel like they are saving money on whatever lured them into the store. A good example of this is how my generation has been slowly ‘killing’ the diamond industry. This is due to many factors, which all ultimately have led to a decreased income for my generation. With less money to spend on extraneous items, it is understandable that diamonds are the last thing we are interested in spending our money on. Especially when there are cheaper alternatives and the high price is due to man-made restrictions of market saturation/supply.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture