Suppose the ineffectual manufacturer’s suggested retail price were suddenly reinvented, with teeth, as a minimum set price? It could happen, and soon. All retailers would do well to monitor decisions coming out of the U.S. Supreme Court through early summer. A ruling is expected in Leegin Creative Leather Products v. PSKS Inc. a case argued before the court in late March, which could profoundly reshape the retail landscape, or reaffirm the status quo. Potentially at stake is a retail concept which anyone who has grown up in the last century takes for granted: manufacturers cannot set the minimum price at which their goods must
“The consumer electronics industry is used to charging for information. So, give classes in your store and charge for them. Don’t be shy! Wake up and smell the cash, kids. Be in the education business.” - Bill McCurry, Photo Imaging Retail consultant, McCurry Associates
“There’s a concept called ‘cooperatition.’ It’s basically partnering with someone you would ususally view as a competitor and finding a win-win. Successful retailers know how to do this.” -Bill McCurry, a digital imaging retail consultant based in Princeton, NJ. McCurry’s example of “cooperatition” was a local camera shop teaching digital photography workshops in a Babies “R” Us store, attracting attention to both businesses.