Pricing

I have a confession to make: A few weeks ago I found myself buying toys for my kids — toys that they really don’t need. I hadn’t planned the splurge, but as I strolled the charming streets of San Diego, my eyes fell upon an incredible feat of store design: a gigantic wooden puppet, its…

The retail sector in 2024 faces a confluence of transformative forces. Geopolitical tensions, intricate supply chains and economic fluctuations have created a complex landscape. Challenges like inflation, rising interest rates, and escalating living costs directly influence consumer purchasing power. The e-commerce boom and evolving post-pandemic consumer behavior further reshape market dynamics, presenting both opportunities and…

Paper shelf price labels are going away at thousands of Walmart stores. The company announced late last week an expanded rollout of digital shelf labels that will allow it to update prices on over 120,000 items within minutes. Weekly updates to paper shelf labels typically took a store worker about two days. With digital labels,…

Continuing its emphasis on low prices, Target said last week it would be adding more than 1,000 low-cost summer items to its product assortment. The products, including swimwear, outdoor items, snacks, drinks and skin care products, will be priced as low as $1 and more than half will be priced below $15. To encourage summer…

Target said Monday it will lower prices on approximately 5,000 frequently bought items as it seeks to stay competitive amid signs consumers are experiencing price fatigue. The company said in a statement that the price cuts are concentrated in grocery staples like milk, meat, bread, fruit and vegetables, as well as paper towels and diapers, with…

False reference price and deceptive pricing class actions are a growing concern for retailers, with lawsuits multiplying faster than ever. Broadly speaking, these lawsuits allege that retailers that routinely offer items at sale prices or that run regular “limited time” offers are engaging in deceptive advertising. The lawsuits allege the purpose of overfrequent sales is…

In an economic landscape filled with challenges, dynamic pricing emerges as a vital strategy for retailers aiming to maintain and enhance their market presence. According to McKinsey, optimizing pricing decisions could significantly impact profits, indicating that a minor 1 percent price increase might lead to an 8.7 percent profit boost. This modern approach to pricing,…

Dynamic pricing has long been a part of the rideshare experience, sparking unhappy social media posts when “surge pricing” kicks in after a night out on the town or a major event. But while the immediate leap from fluctuating fares for a ride home to varying prices for your lunch might seem a stretch, it's…

The United States has a startling food waste problem, much of it caused by the grocery retail market. Thirty percent of food in grocery stores is thrown away in the U.S., and 16 billion pounds of food is wasted by retailers every year, according to RTS data. In fact, the food that grocers waste is…

With signs that retail sales are slowing and inflation remaining stubbornly elevated, more businesses are turning to artificial intelligence (AI)-powered pricing software to maximize revenue and protect operating margins. While cost cutting will always be important, it's this focus on the top line that now creates lasting competitive advantage. The momentum behind AI shows no…