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Sudhir Holla
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Step No. 5: Monitor and tweak. Very often, we find larger retailers unable to implement quick changes in prices. While the assortment that a retailer chooses and the content and SEO efforts they put in are slightly longer-term strategies, price is a short-term lever that's available to tweak. If the sellthrough of a particular item is showing a rapid increase, retailers must be flexible to increase the price and skim those additional dollars of margin, while paying equal attention to items that aren't doing well to identify the need for actions like price reductions and bundled offers to encourage sales.
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Sudhir Holla
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