My past experience as a manager in the retail market makes me wonder why many retailers are so slow to adapt to the changing business model. A lot of small business owners have not yet figured out how to compete against online sellers, and remain committed to a business model that will no longer work for them. All business must make a profit to survive, and the profitablity margin required for a brick and mortar shop to stay in business is reasonably consistent across a wide spectrum of business types. However, I have never understood why a retailer would rather lose a sale, even though it may be at a lower profit margin than desired, than match or come close to matching the online price. If the retailer works with the customer to keep the sale in the store, and works hard to develop a relationship, both the retailer and client would likely benefit. When the customer walks out the door without purchasing the item they want, the retailer's profit is exactly zero, not only on the item the customer wanted, but other items the client may elect to buy at point of purchase or in the future. The catch phrase "Get the money" in the "Jerry McGuire" movie should be every retailer's mantra. As a business owner, it is better to have the client's money in your pocket than in someone else's pocket.
