Pricing

Today’s shopper behavior is changing faster than ever before. Typically, shopper behavior changes are slow and steady – like making course corrections on a big ship. However, with the highest inflation in 40 years, we are seeing material changes in shopping habits on a much shorter timeline. The Why Behind Price Increases The average shopping…

Consumers and businesses are both being impacted by ongoing inflation. Retailers must change their tactics in the current economic environment. They must understand the trends that have developed as a result of this inflationary environment in order to respond. In this post, I'll look at three tactics retailers may use to weather the current economic…

The rising cost of consumer packaged goods (CPGs) is more than a grocery and retail store annoyance. From social media to the Grammys, U.S. consumers are vocalizing their inflation frustration — and pointing fingers at who they think is responsible. Many feel that brands themselves are behind pricing increases (and with good reason). The New…

With the lingering effect of inflation, consumers are facing new woes and worries that are reflected in their spending and shopping habits. These inflationary pressures will continue to impact shoppers’ habits, and retailers must adapt quickly to ensure they don't miss out on the next decade of growth and profit potential. Recent consumer research tells…

Over the last year, unprecedented inflation has caused dramatic shifts in consumer purchase behavior. According to Gartner research, 45 percent of consumers were extremely concerned about price increases heading into 2023. Simultaneously, more than half of consumers have traded down in the past month in everyday lower-priced industries like consumer goods. While inflation appears to have…

Inflation has been eating away at profits for many retailers. The Consumer Price Index (CPI) measures the annual change in prices paid by consumers, calculated as a weighted average of prices for a basket of goods and services representative of aggregate consumer spending. When the pandemic began, global inflation was decreasing, and the downward trend…

What do changing customer behaviors, supply chain disruptions and cold weather have in common? They all greatly impact order management. With all three factors converging during the next few months, managing seasonal inventory can prove to be a major challenge for retailers. In a recent report about the 2022 holiday season, McKinsey shared that “consumer…

Today’s retailers are facing an urgent need to better understand customer behaviors. This holiday season, listening to what consumers want and need will be vital to predicting their purchasing decisions and ensuring your inventory is not under- or overstocked. However, many supply chain leaders are still relying on their instincts rather than the newest data.…

The last three holiday seasons have each been unique as the pandemic first roiled consumer behavior and then unleashed pent-up demand, all the while playing havoc with the economy. This year, with inflation rising and discretionary spending squeezed, retailers are already preparing for a slower holiday shopping season, and a new set of challenging dilemmas.…

Despite the first mention of the metaverse being found in Neal Stephenson's "Snow Crash" (1992), it wasn’t until 2020 that the term became an omnipresent buzzword in retail, technology and finance. And it wasn’t until October 2021, when Facebook officially announced it was changing its name to Meta, that it became a household trending term.…