Some photographers still insist on pricing below cost or competing only on price. In the race to the bottom, these photographers will always win, or lose, depending on how you look at it.
If a photographer sells very cheaply or works for free, hoping that customers will one day agree to pay much more or that a huge volume of work will magically appear, then this photographer will be greatly mistaken.
On April 6th, CPI Corp., the company that owned and operated all of the Sears portrait studios and about 20% of the Walmart portrait studios, in the USA, shut down its US operations. Its Canadian in-store studios are, so far, unaffected.
CPI, (in)famous for its dirt cheap portraits and free prints, was ….. (wait for it) ….. losing too much money. It owes about US$174.8 million. Creditors gave the company until April 6th to repay US$98.5 million. So CPI is a winner in the race to the bottom!
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