What Happens If Nobody Uses Local Shops Anymore?

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No doubt, you will have already noticed some local shops in Stow-On-World closing, shutting down or, moving into more affordable premises so that they may ‘stay afloat’. A business owner will do whatever they feel is right for their business so, you might notice some strange fluctuation of prices from company to company, here’s why;

Fewer customers

As you are probably aware, local businesses such as a stairlift supplier in Stow-On-Wold rely upon customers in order to survive. If there are fewer customers buying goods, then, a business could do one of two things. They could increase their prices, which isn’t good for anyone, or, in a hope to attract more customers, they could lower their prices, giving you the opportunity to grab some real bargains.

One of two ways

If a business increases prices, then it might still sell products to new customers, existing customers though will likely feel a certain way and, perhaps look elsewhere. Ultimately the business will probably fail. On the other hand, the more logical approach of lowering prices works, if and only if, the business can afford to take the hit for a while because, over time, they should attract more customers than they had before which could see them in good stead moving forward.

Loss leaders

Some businesses go one step further, selling some products at a lower price that it cost them to purchase! The idea is that if somebody enters the store on the back of the ‘loss leader’ then they could well purchase something else.