Feature: The Price is Right

The not-so-good examples of implementation, however, are characterized by incomplete data, poor quality of data and over-reliance on human effort where automation would be better.

As retailers get clarity on their overall pricing philosophy and strategy, and take suitable steps to develop new dynamic pricing capabilities, brands also need to start taking notice and take steps to get a better understanding of channel pricing. Brands, especially those that have a minimum advertised price (MAP), will learn quickly that their current methods of MAP monitoring are on the way out as retailers start implementing more sophisticated pricing capabilities that enable dynamic pricing, pricing differently (e.g., by style, color and/or size), in-cart pricing and personalized pricing.