Kmart Australia – PlayStation 3 160GB only AU$289
In recent months PlayStation 3 prices have dropped drastically; now Kmart are advertising the 160GB ps3 for only $289 on the front page of their upcoming Kids Living Clothing catalogue starting Thursday 8th of September 2011.
Kmart also has the 320GB console bundled with Resistance 3 or PlayStation Move for $389, which is the first time they have stocked this model. Reistance 3 is also on sale for only $79, and it due for release on Thursday as well.
Could this price cut bring Sony back into the market leader, after years lagging behind both Nintendo and Microsoft?
Has this price cutting helped Kmart dominate Australian retail?
Nintendo and Microsoft have lately dominated the gaming market; with Nintendo's Wii aimed at the everyday family, and Microsoft's XBox consoles, bundles with the controller free Kinect sensor. Sony has some difficult competition, and with less than 4 months until Christmas, this price cut may help it win back some market share.
Recently Kmart has drastically dropped prices across it's entire range including men's and women's denim jeans for only $10 and a microwave which has dropped from $110 in 2009 to only $45. This new lowest price tactic seems to have paid off; with Kmart reporting a growth in earnings of 4.1% to $204 million, whilst it's main competitor Big W reported a drop in earnings of 11.5% to $177 million making Kmart the leading discount department store within Australia.
Kmart's price cutting strategy works by lowering prices of products, hoping for more sales growth
Example:
- Kmart may of sold 400,000 jeans at $15 throughout the 2011-2012 financial year
- However, they would hope to sell 800,000--1,000,000 instead at $10 a pair, resulting in lower cost price due to a growth in volume, and higher profits whilst giving their customers a better deal; leaving everyone happy.
With Kmart Australia having the lowest price on the 160GB PS3 this week, they may hope to follow the above model to some degree; expecting a higher volume of sales by passing on the discount to the customer.
September 5th, 2011 - 22:17
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