The Wa Wa Secret

There is a convenience store called WaWa.   They are privately owned.   At the time of this writing, these stores are popping up like whack-a-moles.  A friend of mine lives in Quakertown, Pennsylvania who explained there were three of these stores within a three-mile stretch of each other.   He said, “In the mornings it is a zoo of people.  They give away their coffee for a buck most of the time.  They sell Hoagie sandwiches and they are good.  But it is the $1.00 coffee that draws people in and while there,  they buy their cigarettes, gas, honey buns and more.”

The big lesson to learn from this successful company is how they bring people in the door nearly automatically.  The answer is the loss leader – the $1.00 coffee.

If you have been in retail you know about the loss leader tactic. Us retailers call it a loss leader, I call them profit bait.  Price an item or items low to draw people in and while there,  they buy other stuff to make up for that loss on the item you sell at or below cost.  That is the theory.  In WaWa’s case, it is not a theory, it is working in true life.  It is a proven concept and success.

So the question is: What can YOU do to attract people constantly to your business that makes sense?

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