We have a few values we seek to always uphold. One is to provide value to our customers and the other is to value our customers' knowledge and input.
These two values came together recently when we recently asked our Facebook fans, nearing 3,500 at writing, to nominate then vote for one product where it was felt our price was too high. This has got to be a first, at least in the officials' retail sporting goods industry.
But I'll just be honest. It's not our strategy to have the lowest prices on every single item. If we did, we'd have to cut our service staff, not answer your calls or emails in a timely manner and cut our inventory levels so low that you may not get your package for a while after you order. Then, we'd call ourselves a discounter. And we're not.
On the other hand, we don't want to price something at a level we think is right only to find in enough customers' eyes it's highly over-priced.
So we thought the nomination and poll on Facebook would not only be fun, but enlightening as well. Out of 44 votes, the response was overwhelming for Majestic Therma Base Jackets. They received 27 votes in all. So if we missed anything price-wise, perhaps this is the one.
Therefore, we are going to trust our customers on this one. The Majestic jackets are being dropped in price from $90 to $80 - although Majestic just raised the price about $8 to our cost on these jackets.
That's right. Majestic raised the cost $8, and I'm listening to my customers by dropping the price $10? One of our Facebook fans commented tongue-in-cheek, "Jim's gone crazy".
Maybe he's right, and the profit numbers indicate we'll have to sell 4 jackets at the new price vs. 3 at the old one to break even. If the customers are right, then perhaps we'll do better than that. I am hopeful this happens, and maybe I'm not so crazy after all.
Help the cause and buy a Majestic Therma Base Jacket today available in various colors and stripe patterns including the exclusive black with white stripes.
Want to join us on Facebook and provide your input to help shape our selection, product features and pricing? Like us and join the craziness at www.ump-attire.com/facebook/