got tv delivered yesterday now dropped £70

Dave_Brooker

jammin wrote: »

If the business can afford to sell the TV at £679 and make a profit, then it was clearly overpriced at £735.

Should they only be able to make £1 profit?

Are you a communist?

jammin_2

Dave_Brooker wrote: »

Should they only be able to make £1 profit?

Are you a communist?

Who said anything about £1 profit? Know a lot about John Lewis' profit margins?

Are you a capitalist?

uktim29

Again everyone assumes theres massive profit in retail. The margins in retail are some of the smallest you'll ever see compared to other business's.

http://www.fashionunited.co.uk/news/johnlewis.htm

Profit after tax £97 Million.

Sales 3 Billion

=3.2% margin.

Not much!

I can imagine some goods get sold at cost for while if another retailer is doing it just simply to look competitive.

Often goods get sold like that for a short while because the retailer hope there will be back end sales to generate some profit rather than the customer going somewhere else to do that.

jamstaruk

Dave_Brooker wrote: »

Of course shoplifters and greedy consumers push up prices.

It's clear that you have never run a business in this country...

you didnt answer the ?


do you honestly think if shoplifting stopped they would reduce items?


p.s i run a very successful business

Timmne

uktim29 wrote: »

Again everyone assumes theres massive profit in retail. The margins in retail are some of the smallest you'll ever see compared to other business's.

http://www.fashionunited.co.uk/news/johnlewis.htm

Profit after tax £97 Million.

Sales 3 Billion

=3.2% margin.

Not much!

I can imagine some goods get sold at cost for while if another retailer is doing it just simply to look competitive.

Often goods get sold like that for a short while because the retailer hope there will be back end sales to generate some profit rather than the customer going somewhere else to do that.

It really pleases me to see intelligence and reasoning like this - Sorry uktim29 (great name by the way ) I'm not trying to sound patronising; I've seen in other posts of yours that you're in retail and should therefore know your stuff!

Tesco for example seem to have countless people from MSE marching into the stores armed with 50% of their shopping's value of coupons and then crying on here because they won't accept them! Billions in profit doesn't mean that a shop's going to end up earning a quid from a £1.50 item! People forget that overheads have to be paid....

Anyway, I could bang on about this for hours.

As for Jammin's statement above about the TV being overpriced originally then no, it probably wasn't! As uktim29 said, they may now even be making a loss on it if it means they stay competitive!

marleyboy

Surely when you bought the TV in question, you were happy with the price, else you wouldnt have bought it. But a shop is at some point going to reduce the cost of an item if they have surplus stock, unfortunatley in your case, it appears it was the next day they did this. One could argue that had you waited another day, you could have got it at that price, or even if you had haggled with them, they may well have relented.

As a business, nobody in their right mind is going to say "I dont want you to pay this much for it, come back tomorrow when we have reduced them". The whole purpose of a business is to make as much profit as possible.

However, I am glad you managed to find a way around it by getting a refund. But had there been no marks or scratches, you would have to accept it was sold as advertised and at that time, you were happy with the purchase.

Dave_Brooker

jamstaruk wrote: »

you didnt answer the ?


do you honestly think if shoplifting stopped they would reduce items?


p.s i run a very successful business

Do you refund all your customers when you reduce your stock/rates?

Of course if shoplifing stopped goods in the shops would be far cheaper.

marleyboy

many stores and business have losses due to shoplifting and in store damages, but such items are taken into consideration as a percentage of goods losses. Sure if shoplifting was stopped completely, a store could find they no longer feel the need for security. But this will not effect the price of a product, a store will reduce prices if supply is in surplus or need to be sold off to make way for new products, fefth or damaged goods would come under a companies insurance, customers dont pay the insurance in the cost of a product.

I dont recall EVER going into a store for a product only to be told, "we had to put the price up as some of them were knicked".

dangeroussports

jamstaruk wrote: »

you didnt answer the ?


do you honestly think if shoplifting stopped they would reduce items?


p.s i run a very successful business

The cost of products in certain retail outlets have to have the cost of breakages/theft etc brought into them.

Just like in takeaways/restaraunts the cost of waste in placed into the cost of the food/product.


p.s I run a very very successful business

uktim29

jamstaruk wrote: »

p.s i run a very successful business

Whats its profit margin?