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3 Surprising Studies to Consider Before Setting Your Price in Stone

Posted by Paul Vella on September 29, 2014

Nailing pricing is something retailers, both large and small, struggle with.  Although most of us don't delight in running endless columns of numbers, if it were only a matter of doing the math and figuring out total cost and profit margins, pricing would be fairly simple. But alas, there many more factors at play. Perception for one plays a particularly pivotal role, and there is of course, the competition to consider. Picking your customers' brains and implementing psychological strategies are imperative aspects in the quest for the pricing sweet spot, and a bit of testing and tweaking can work wonders on your bottom line. Before you go ahead, and set anything in stone, here are some studies to consider. Read more…

Ensure your product or service is priced strategically & competitively. We lease POS and everything else your retail business requires. Call us today.

Meet Canada’s Fastest-Growing Manufacturers

Posted by Paul Vella on September 25, 2014

How To Finance Fast Expansion: Stuart Lowther, the CEO of Life Science Nutritionals Inc. ranked #1 on Profit 500's list of Canada's Fastest-Growing Manufacturers says "lease financing on new equipment helped to expand our packaging lines."

There's a pervasive sentiment the manufacturing sector in Canada is dying, if not already dead. Hardly a day goes by without a dispiriting headline about a plant closure or a production delay or the dismal state of our national competitiveness.

To those reports, we offer the following rejoinder: our ranking of Canada's Fastest-Growing Manufacturers. Nearly one in five firms that made the 2014 PROFIT 500 ranking are manufacturers—some 90 in all.

Every company on the list below has grown its sales significantly during a time of near-flat economic growth. Proof: the typical manufacturer on the 2014 PROFIT 500 increased its revenue by 509% over the past five years. For the Top 10, that average skyrockets to 2,618%. Read more…

5 Reasons Not to Hate Your Competitors

Posted by Paul Vella on September 17, 2014

When I owned my coffeehouse (2001 to 2004), people frequently asked me if I hated Starbucks. I didn't. After all, Starbucks is responsible for re-introducing the culture of coffee in the United States and for establishing it in countries where the café culture never before existed. Starbucks put the romance into the coffee experience. Without those romantic notions, consumers wouldn't have given a second look at my drive-thru, or stop by for a fireside chat over a delicious cuppa joe with their friends. Thank you,Starbucks!

Still, the truth is that the coffee giant made it impossible for an independent coffee retailer like me to compete, so I didn't. Instead my business became what Starbucks is not. Read more...

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