When it comes to pricing, featured merchant Datch Haven of Epic Displays believes in a balanced strategy.
One of his priorities is to be competitive. “We keep our prices low,” he says. With all the comparison shopping engines out there, people are not fools. Five dollars is a big difference, even if an item costs hundreds or thousands. If you’re sorting by price and a competitor has the same product, even pennies can make a difference.” That's why Datch price matches.
Another way Datch stays competitive is keeping a close eye on his overhead. He drop ships most of his inventory so that he doesn’t have to keep a warehouse. He has also ruled out opening a brick and mortar.
“As long as we’re on the other end of the phone when someone calls, we see this as the normal evolution away from the typical traditional store. There are a lot of people working out of their home. It cuts down on office and travel expenses.”
That said, Datch insists that low prices have to be backed up by good quality and the utmost respect for the customer. “The primary strategy is to have a great product, web site, and client service. If you only concentrate on beating everyone else’s price, it’s a fight-fire-with-fire downward spiral."
