By Mikal E. Belicove, Director - Community & Education, Doba
Almost every new online retail merchant makes the same mistake. They figure they can earn a lot of money simply by selling merchandise for a little less than the competition. They soon discover, however, that competing on price alone does not work. Every retail expert on the planet is well aware of the fact, but everyone seems to need to learn this painful lesson on their own.
If you made the mistake of trying to compete on price and price alone, don't feel bad. You're not the first, and you certainly won't be the last. Just stop doing it. If you need some convincing, that's what the first part of this article is all about. Here, you find seven good reasons not to compete on price alone.
1. The "Big Boys" will pummel you
The Wal-Marts of the world have a distinct advantage when it comes to pricing products to sell. Here's why...
