While a few years back we would associate bargains with cheap products, today we are spoilt for choice thanks to even big brands offering rebates on their wares.
When considered the best buys today we not only find the new comers, the established brands also are giving away their products for less.
The reasons the businesses quote are:
1. Cheap competitors have reduced its market worth;
2. Thanks to more vendors, the cost of making the product has come down;
3. Their focus has shifted from niche to mass, thus a price slash was essential,
4. They had to sell away old stocks so that they can make way for new ones.
Come what may there are a few facts, that I see when sieving out the excuses.
1. Their wares were too optimistically priced,
2. The are getting rid of the goods before they go out of fashion or loose their utility value,
3. Their goods are fast reaching expiry dates,
4. They are not able to stand against their competition in the price war,
5. The product was never worth its price,
6. Their products are no more niche.
The reason for price fall, depends not only on the market behaviour, it also relates to how innovatively and well-planned the market lifecycle of the product is. And most fall short right there.
If you have a different opinion, why not we discuss that in the Comments below.