The loss leader
Studying economics in College many moons ago, I was fascinated a term used by the professor. "Loss Leader". Although my Professor used to drone on for hours, I did remember something. Supermarkets pioneered this in order to draw customers into their store. Offering something way below cost price that was popular, in need and colourful to advertise was the key. Washing powder, cornflakes and butter drew in the crowds. Once in, customers were then up-sold vigorously. It happens all the time in retail stores so now is the time for…
