A Missouri bookstore owner urged retailers to use pricing strategies to battle big-boxes and build relationships with customers. Chris Leiter, owner of For-All Bible Center in Joplin, Mo., began implementing pricing strategies nearly four years ago when his store went through a financial and staffing crisis.

When he learned customers were leaving his store last year to buy The Purpose-Driven Life (Zondervan) at Wal-Mart for 50 cents less, he dramatically dropped the price to $10.97 from $12.97. Before dropping the price, he was selling about 40 units per month. After dropping it, For-All sold about 95 of the books per month.

Citing some of his strategies, Leiter invited retailers to use loss leaders to build a best price perception. He selects best-sellers and reduces them for lowest price perception. In doing so, Leiter said, "you build the reputation of being the place to find the latest Christian product at the best price in town."

"They buy other things; that's how you make up your gross margins," he said.

He urged fellow retailers to keep well-stocked back lists and to consider joining a marketing group. He also implored them to consider buying discount titles and products.

Leiter said the bookstore sold 8,000 cassettes in four weeks by knocking down the price to 10 cents each.

A computer giveway at Christmastime in 2003, for example, resulted in more than 1,000 new names to the store's mailing list.

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