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Joe Keenan
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Leveraging big data for pricing has paid dividends for Vera Bradley. Steever cited an example from Vera Bradley's baby line, specifically a dress and bloomer set, that was originally priced at $49. After analyzing the data as well as the feedback it got from customers, the retailer changed the price of the product to $48. The move resulted in a 6 percent increase in sales in the indirect channel and a 2 percent increase in sales in the brand's direct channel.
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- People:
- Scott Steever
- Places:
- New York City
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