www.projo.com/business/content/BZ_HARRY_21_07-21-07_N86 -
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Published on: 7/21/2007
Last Visited: 7/21/2007
"The whole point of a loss leader is to draw customers in and generate traffic in your store to sell other, high-margin, goods," said George Anderson, RetailWire's editor-in-chief."It's really no different than the free turkeys or the weekly special on milk and eggs" at a supermarket.
"They need the add-on products to generate profits."
All those midnight sales events last night weren't as likely to generate profits as much as they were to generate some "cachet as a fun place to shop," Anderson said.
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Staffing is always an issue for such blockbuster events, Anderson said.
"Checkout is one of the biggest complaints any retailer receives," Anderson said.