Everyday Low Price (Edlp) Definition
In retail, every day low price (EDLP) is a pricing strategy where prices are reduced on an ongoing basis as opposed to being increased in response to occasional sales or discounts. The goal of EDLP is to build customer loyalty by offering consistently lower prices than what competitors offer. In order for this strategy to be successful, retailers need to have a clear understanding of their customers’ needs and what prices they are willing to pay. They also need to have a efficient supply chain in place so that they can keep their costs low and pass the savings on to their customers.
