Shoppers cite the price of a product to be the primary reason to choose purchasing it from a particular retailer. In fact, as many as 60 percent of consumers opt for a seller with the optimal price. In most cases, consumers compare prices offered by retailers for so-called key value items(KVIs). They value such products the…
Nikolay Savin
In any difficult situation, cut the price. That’s the basic rule omnichannel consumer electronics retailers use when setting prices. And copy the moves of your competitors. That’s rule No. 2. If a retailer suddenly changes the price for a particular product for a specific reason — e.g., lowering the price to liquidate excess inventory —…
