Pricing

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.…

In this episode of Total Retail Tech Insights, Editor-in-Chief Joe Keenan interviews Alex Galkin, founder and CEO of Competera, a technology company that offers a comprehensive pricing platform. Listen in as Galkin discusses Competera's offerings and why he decided to start the company (0:51), the advice he would go back and give himself when starting the…

With supply chain issues stressing physical inventory and inflation running high, consumers are turning to gift cards to fill the gap and stretch their spending power. According to a recent consumer survey from Fiserv, 58 percent of consumers said gift card promotions are motivating them to buy more gift cards during this inflation period. This…

As the U.S. economy rebounds, inflation has become a significant concern for consumers as prices have soared across many sectors. According to the Bureau of Labor Statistics, inflation rose 8.5 percent over the last 12 months, with fuel, shelter and food driving most price increases. Energy costs alone rose 32 percent in the previous 12…

While only a few months ago U.S. retailers were scrambling to fill their shelves due to supply chain delays, many are now facing inventory surpluses and having to discount unsold goods, according to a Reuters report. Average retail inventories have been rising quickly, too. The Reuters article cited research from Citi that found 11 of…

In episode 350 of Total Retail Talks, Editor-in-Chief Joe Keenan interviews Kadian Langlais, chief marketing officer of Renfro Brands, a leading designer, manufacturer and marketer of quality socks and legwear products. Langlais discusses the 100-year-old brand (1:02), her professional background in retail (3:12), and the impact that inflation and supply chain disruptions are having on…