Companies work hard for that Luxury cache. Discounting is not a word associated with a luxury brand. But what if your luxury brand is having sluggish sales? Do you use the word Discount (or the dreaded words: Today only Sale, cheap,sensibly priced, value)? Do you slash prices? Do you send out emails advertising 50% off everything? Do you start to look desperate? I feel that luxury products need to be priced correctly for the market. If sales are slow then quietly re-adjust pricing to reflect the demand and what the market will bear. This way you  will not be diminishing your luxury brand but you will be able to attract sales and that is the key.  Send out a newsletter promoting a new collection. Post photos of new products on Facebook with links to the pricing on your website. At that time have your new pricing strategy in play. The product will be priced to sell in today’s market. All your other products are re-priced without a sale, without announcing that you have lowered prices. Companies need to be very smart about pricing in a down market and in a luxury market. If you come in too high you may never again have the chance to introduce your potential customer to your brand again and if you sell too low your brand will be diminished forever. If you can’t sell a product that is priced right then slashing prices will not increase sales- it will only make the brand look . . well. . (gulp) desperate.

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