I am briefly in Marrakech and the price of most things varies. There is a tourist price and there is a local price and you have to bargain hard, which takes time and adds purpose to the transaction. What is clear is that for most local people this is not a time poor society. If you can spend all day discussing the price of some oranges, because there are more sellers than buyers, then you are prepared to chance your arm with a fresh faced visitor. The quality of retailing, within these parameters, is good. Abundant service, lots of validation, lots of charm. We can learn from their energy.
Retailers need to introduce new products to provide their shoppers with "good news" and to generate interest. But for each new product that you introduce you need to consider delisting an existing line. Easy, you might think. I will just print out the list of products in the category and take off the one with the lowest sales. However, if you do this research from the US suggest you might be wrong. What you need to consider is what sort of demand you have for each product, a white paper by Demand Tec, a US specialist software provider shows. It says that there are two kinds of sales: incremental sales, when products add to the total shopper spend and are not readily substituted by another item transferable sales, where shoppers find an alternative easily when it is not available. Using its software, it shows a category with 50 products from top seller to bottom seller. At the same time it also measures the incremental sales each product provides. The number 50 in ove...
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