Retail Success Requires Personalized, AI-Driven Pricing Strategies

Do you understand the factors that drive your customers’ purchasing decisions? The introduction of artificial intelligence and machine learning into the digital price optimization space can help to increase loyalty and retention. Revionics recently commissioned Forrester Consulting* to investigate retailers’ views on shopper behaviors, various discounts, markdowns, and promotions.

How are retailers missing the mark?

  • 71% of retailers think shoppers would be frustrated by frequent pricing changes, while 62% of shoppers are fine with frequent price updates as long as they are fair. 
  • 76% of retailers think shoppers are looking for the cheapest price, while only 17% of shoppers buy products at the cheapest price. 

Leveraging AI, you can personalize shoppers’ pricing and promotions, making them feel valued and driving improved loyalty. Be the first to see the results of our latest study and find out what is driving your shoppers’ behavior.

Retail Success Requires Personalized, AI-Driven Pricing Strategies