Pricing
October 3, 2019 at 9:12 am
Despite the availability of voluminous shopper data and advanced analytics, many consumer packaged goods (CPG) companies leave revenue on the table by failing to optimize the link between product pricing, product development and marketing. Marketers rely primarily on elasticity as the primary factor when setting pricing, and think less about how to move the curve…
October 2, 2019 at 11:12 am
A new survey about the impacts of product tariffs from Intelligence Node, a proven innovator in retail analytics technology, reveals that consumers are concerned that retail prices will soon be on the rise. More than 1,000 respondents took part in sharing their sentiments on impacts to retail pricing as a result of new tariffs going…
September 30, 2019 at 11:12 am
In my previous article on retail pricing excellence, I discussed how traditional retailers are facing threats from all corners. Domestic and foreign competitors, direct-to-consumer (D-to-C) brands, and entrants from nonretail sectors are fighting for market share. Against this competitive backdrop, shifting consumer preferences, high-end expectations, and new business models are adding to the pressure. To…
September 11, 2019 at 1:17 pm
Now that summer is coming to a close, retailers’ thoughts are turning to planning and strategies for the all-important holiday season. The season spans Black Friday to Cyber Monday and through the varied landscape of early shoppers who plan ahead to last-minute shoppers who crowd stores and websites in the last days before Christmas. Retailers…
August 29, 2019 at 12:39 pm
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…
July 25, 2019 at 11:20 am
In the time of Amazon.com, e-commerce and direct-to-consumer (DTC) brands, traditional retailers are continuously having to grapple with how they can compete, and price remains the primary battleground. We're all familiar with the dollars and cents logic behind selling products and maintaining margins, however, winning on price is about more than just hard, tangible figures, it's…
July 17, 2019 at 12:40 pm
As retailers fight to win online market share, they're forced to up their game and push boundaries to meet customer expectations. The reality of competition in today’s cutthroat world of e-commerce translates into companies looking to one up or match their competitors, which is doing more harm than good to the industry. Many online retailers…
July 9, 2019 at 11:35 am
The ongoing saga around Bed Bath & Beyond continues to send ripples throughout the retail industry. Once the pre-eminent home goods brand, Bed Bath & Beyond is in the midst of massive upheaval as it struggles to cope with the pressure it's facing from discounters and online pure-play brands, particularly when it comes to pricing.…
May 29, 2019 at 2:05 pm
A new study from IDC predicts retailers will spend $5.9 billion this year alone on artificial intelligence (AI) tools like automated customer service and product recommendations. Furthermore, 79 percent of retail and consumer products companies expect to use intelligent automation to learn more about their customers by 2021. Yes, retailers are making big investments in…
May 22, 2019 at 9:38 am
Much has changed in the retail landscape, from the relentless rise of the power of the shopper vs. the retailer, to an explosion of online and brick-and-mortar competitors, to the ease with which consumers can compare prices and promotions across all channels, brands and retailers with a few taps on their mobile device. Some core…
