There are several basic pricing strategies for retailers including markup pricing, vendor pricing, competitive pricing, and psychological pricing. EDLP (everyday low pricing) and HILO (high-low pricing) are two common approaches, with EDLP more suitable for stores like Walmart that promise low prices on all items and HILO more common for department stores that run frequent sales. Care must be taken when running promotions, as too frequent discounts can condition customers to only buy on sale and undermine a retailer's brand.