ASK THE EXPERT: IT’S RELATIVE

Consumer-centric retailing pays off in more ways than one. Below, MR contributor BJ Stringham of UWM Men’s Shop and Selling Is, delves into how this approach continues to benefit retail businesses and their customers. 

Understanding relativity in sales means recognizing that customers value and spend money differently based on their priorities and financial confidence. First, respect their budgets by offering a range of quality options and avoiding projecting your values onto their decisions. It is also important to emphasize long-term value over short-term savings by educating customers on the true cost of ownership and the benefits of quality. Lastly, use personal experiences and higher-priced benchmarks to help customers see your products as a worthwhile investment.