Every Day Low Prices (EDLP)

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Definition: Every Day Low Prices (EDLP)

Every day low price (EDLP) is the pricing strategy used by retail stores that provides low prices to the customers every single day without any special pricing discount, sale, comparison shopping etc.

Traditionally, retail stores used to keep regular pricing discounts, coupon clipping promotions, etc. to promote their sales and increase the footfall in their stores. But, this needs a lot of effort in terms of monetary aspects and physical aspects making it difficult to sustain the competitive advantage. The strategy of EDLP helps to convince the consumer that they will get better and low prices than other competitive stores everyday even though the promotions of competitors at regular intervals might provide lowest prices but they will not be available everyday.

EDLP also helps the retail stores to reduce their demand fluctuation that would occur due to promotions on some days, and also reduces the probability of consumers receiving time degraded products. Stores like Walmart and Spencers have used the EDLP strategy to a very good extent for their success.

EDLP has been used by Walmart stores in their branding.

Hence, this concludes the definition of Every Day Low Prices (EDLP) along with its overview.

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