Quizzes & Puzzles5 mins ago
Price Matching
7 Answers
I've been looking to buy a freestanding induction cooker in recent weeks and came across a top of the range model sold by John Lewis. The price was £999.99. Argos and other major online retailers wanted far more for the cooker.
As I've never seen an induction cooker in front of me, I went to check if any local electrical retailers had it in stock. The website of my local independent electrical store showed a ceramic version of the cooker but not the induction model. On the off chance, I gave them a ring to find out if they could order the induction model for me. It turned out they could get it, sell it and deliver it to me for £!432.99.
At this point, I cheekily asked if they could price-match John Lewis. I was gobsmacked when they agreed to order and deliver it for £999.99!
How can they afford to do this? I always thought that the margin on higher value electrical goods was set at around 33% which make any retailer think twice with this sort of reduction. There were no offers of any sort applicable to the cooker and the warranty terms were exactly the same from both sellers. Delivery times were also identical with JL offering deliver in 7-10 days and the other retailer 7 days.
Incidentally, I ended up buying from the local retailer as I can go down and bang the desk if anything goes wrong!!
As I've never seen an induction cooker in front of me, I went to check if any local electrical retailers had it in stock. The website of my local independent electrical store showed a ceramic version of the cooker but not the induction model. On the off chance, I gave them a ring to find out if they could order the induction model for me. It turned out they could get it, sell it and deliver it to me for £!432.99.
At this point, I cheekily asked if they could price-match John Lewis. I was gobsmacked when they agreed to order and deliver it for £999.99!
How can they afford to do this? I always thought that the margin on higher value electrical goods was set at around 33% which make any retailer think twice with this sort of reduction. There were no offers of any sort applicable to the cooker and the warranty terms were exactly the same from both sellers. Delivery times were also identical with JL offering deliver in 7-10 days and the other retailer 7 days.
Incidentally, I ended up buying from the local retailer as I can go down and bang the desk if anything goes wrong!!
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One doesn't request a price match to a higher price :-)
Your 33% expectation is not something carved in stone. Sellers ask for whatever they think they can screw out of buyers; Capitalism doesn't insist on a fair price. It's a jungle out there. Everyone has to look after their own interests, no one cares about others (save maybe family and friends).
Your 33% expectation is not something carved in stone. Sellers ask for whatever they think they can screw out of buyers; Capitalism doesn't insist on a fair price. It's a jungle out there. Everyone has to look after their own interests, no one cares about others (save maybe family and friends).
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