For retail and e-tail businesses, there are significant benefits to working with pricing analytics experts who have high-level pricing analytical skills and can use a company’s data to inform pricing and create new pricing opportunities, especially in the areas of e-commerce and competitive intelligence. In this article, the author presents best practices for applying pricing analytics tactics to large, dynamic retail businesses which can be used by pricers operating in these markets.
Many retailers underestimate the value of coordinating decisions on pricing and promotions. A new pricing analytics approach can help.
This case study outlines a pricing transformation project that provided $3 million in short-term pricing opportunities and $10 million in long-term margin improvement opportunities. The project realized these outcomes by harnessing consumer pricing research to determine if different customer segments shopped using specific retail channels, and if so, which products should be offered through each retail channel, and at what price.
When it comes to retail pricing structure, there are a lot of variables to take into consideration. In this article, the author discusses one retail pricing structure that helps to gain back control over prices and manage pricing effectively. This retail industry specific example contains pricing structure analysis that can benefit pricers in multiple industries.
In this article, the author examines the growing challenges retailers are facing in pricing for both brick-and-mortar and online customers. To succeed in the modern world of retail, the author explains, executives need to embrace web and in-store as unique operations that cater to customers with different needs and price sensitivities.