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The Dynamic Pricing War: Retailers Need Answers in the Face of Extreme Competition

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The Dynamic Pricing War: Retailers Need Answers in the Face of Extreme Competition

Not surprisingly, most retailers have been giving consumers unseasonal price breaks and promotions to match up to the unwavering digital and off-price competition. Unfortunately for them, in spite of such short-term measures many retailers still struggle to maximize price and promotion effectiveness for consumers.

Research Highlights:

On average 8 out of 10 millennials rank price of the product as the leading influencer in the purchasing decision
Lack of optimization and dynamic approaches in pricing, promotions and markdowns accounts for a 2.6% gross margin loss, 3.2% operating profit reduction, and 4% in lost sales.
Nearly half (48%) of retailers are currently upgrading their promotions management /optimization capabilities or have planned replacement in the short run while 18% have identified the need for such an upgrade.

Responsive Retail: Building a Shopper-Centric Merchandising Model

Revionics’ intuitive and transparent cloud-based solutions enable performance-driven retailers globally to leverage predictive analytics and build a shopper-centric, responsive merchandising model that creates a sustainable competitive advantage with a clear path to profit. Learn more.

The Dynamic Pricing War:
Retailers Need Answers in the Face of Extreme Competition

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