If everybody’s doing it, low price is no distinction

Observation:  Today’s Supermarket Guru newsletter from Phil Lempert opines that consumers have come to expect great prices everywhere they shop.  So, to point out the obvious, just having a low price does not make your company, product or service “special.”  Click here to see the story. 

Implications:  A unique selling proposition must be—before all else—unique.  When the market was flooded with discounts during our recent economic turmoil, retailers were forced to become more thoughtful and creative.  Examples?  How about free Wi-Fi in the auto dealer service department so I can work while I wait?  A list of wine pairings offered free at the grocery store where I buy fresh seafood.  Or a hands-on test drive (like the Apple store). 

 Discounting can be a race to the bottom of profit margin.  It’s what you do under the sale sticker that makes you special.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.