□ Huang Wanying (Shanghai University of Finance and Economics)
On November 30 th, the news that good shops will cut prices on a large scale attracted attention. It is reported that the average price of more than 300 products sold in this price reduction store has been reduced by 22%, with the highest drop of 45%. On November 29, Yang Yinfen, the helm of the good shop, sent an internal open letter to all employees, saying that the cost should be reduced and the price should be close to the people. (December 1, Beiqing Net)
The price reduction strategy of good shops is not only a sensitive response to the current market environment, but also an active adaptation to the future snack industry trend. Under the background of increasingly fierce competition in the snack industry and increasingly diversified consumer demand, the price reduction measures of good shops show their market insight and adaptability.
First of all, from the perspective of consumers, the price reduction strategy of good shops is undoubtedly a positive response to changes in consumer demand. At present, consumers are demanding more and more cost-effective, especially in the context of increasing economic pressure, high-quality and reasonable-priced products can attract consumers more. The price reduction of good shops is based on the changing trend of this consumer market, trying to attract a wider range of consumer groups by lowering the price threshold, so as to maintain its competitiveness in the market.
Secondly, from the perspective of industry competition, this strategy of good shops is also an adaptation to the changes in the internal competition pattern of the industry. With the further subdivision and specialization of the snack market, consumers’ choices of brands and products are more diverse. The price reduction of good shops may force other brands to adjust their prices, thus promoting the price remolding of the whole industry and triggering a new round of market competition.
In addition, good shops emphasize maintaining product quality while reducing prices, which reflects their persistence in brand core values. In the current market environment, price competition alone is not enough for a long time. Good shops show their comprehensive and balanced market strategy by adjusting prices on the premise of ensuring product quality.
However, in the face of such a large price reduction, good shops also need to consider the possible financial pressure. Although price reduction may attract more consumers and increase sales in the short term, in the long run, companies need to pay more attention to cost control and improvement of operational efficiency to ensure that profit margins will not be affected too much because of price reduction.
Finally, the price reduction strategy of good shops is a positive adaptation to the current market environment and a forward-looking investment in future market trends. Through this price reduction, good shops may not only expand their market share, but also promote the development of the whole leisure and snack industry to a more reasonable price and quality balance. But at the same time, it is also a challenge. Good shops need to finely manage their costs and operations on the premise of maintaining quality to ensure long-term sustainable development.
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