Pricing

Bed Bath & Beyond (BB&B) is known for its frequent coupons, sent in the mail and via email to lure customers into stores by promising 15 percent or 20 percent discounts off bedding and other home accessories. However, in a bid to boost profits and be more competitive on pricing with its competitors, the company is…

There’s no question that the upcoming holiday shopping season, and Black Friday in particular, promises to be the strongest on record. With major retailers such as Walmart planning to remain closed on Thanksgiving — the modern start of the holiday shopping season — both brick-and-mortar and online retailers alike are gearing up to maximize their…

As the holidays quickly approach, many early-bird consumers have already begun rounding up items on their holiday lists, eager to beat the holiday rush. But as any retailer knows, there will inevitably be plenty of shoppers who need a little — or perhaps a lot — of help making that final dash to get their holiday shopping wrapped…

Several major retailers have signaled that they're using Amazon Prime Day 2020, which runs today and tomorrow, as the starting point to begin their holiday sales — even though they're not mentioning Amazon.com directly. On Monday, for example, J.C. Penney launched an event that runs through Wednesday that allows "shoppers to get a jump start on…

The all-important holiday season is always a time of intense focus for retailers, but this year it should command more strategic attention than ever. With the added chaos created by the pandemic, all kinds of unprecedented uncertainties loom over the 2020 holidays. Now is the time for retailers to take a fresh and strategic look…

As the calendar turns toward September, shorts, shirts and swimsuits must make way for sweaters and slacks in retail stockrooms. But with consumers everywhere staying home, some retailers’ inventories may be bursting at the seams with backlogged products. Whether they’ve slowed their buying to keep balance sheets in check or are simply reaching the end…

It’s often said that perception is reality. How a brand or product is perceived by a consumer is more real to them than a retailer may realize, and that can be hard to overcome. According to a Price Optimization RSR Benchmark Study conducted in March 2020, 34 percent of "retail winners" indicate that a top…

Studies show that COVID-19 has changed buying habits permanently. Shoppers are more likely to purchase from local brands, prefer contactless payments, and choose online shopping over going to a physical store for a wider range of categories than before. As proof, global retail website traffic in March amounted to 14.3 billion visits, with Amazon.com being…

In recent years, artificial intelligence (AI) and machine learning (ML) technologies have successfully penetrated many industries, ranging from healthcare to automotive. However, retail is particularly susceptible to adopting various ML applications as data is this industry’s driving force both in the physical and e-commerce realms. For example, an AI-powered recommendation engine has become a must-have…

It’s estimated that 25 percent of the world’s population already shops online, and with more customers participating in e-commerce daily, that number is expected to reach 2.14 billion people by 2021. Therefore, it’s unsurprising that a typical e-commerce platform processes hundreds of thousands of transactions every day. E-commerce platforms also undergo a host of other…