The pace of retailing is getting even faster to meet consumers’ desires – and pricing is no exception. Competitive retailers not only have to ensure that all prices on the floor are current and compliant but also find ways to maximize same-store revenue through dynamic merchandise pricing. However, this is no easy task.
Retailers have to consider these critical components:
1. What, when, and where should merchandise prices change?
2. How can the price changes be executed in real time with scale, speed and flexibility?
3. How do I gain visibility to ensure prices I pushed to the stores have been executed? Learn how to execute pricing decisions at speed and scale to avoid the race to the bottom.
“Reacting to competition today versus last month or last season has made us more competitive and smarter. Instead of pricing with a machete, now we do so with a scalpel”
- Steve Neptune, Senior Vice President of Financial Planning & Strategy, eBags.com
“We’re now implementing more shopper-centric pricing along with enforcing our rules and allowing our pricing strategies to come fully alive at the shelf.”
-Tim Concannon, Director of Pricing Service, Delhaize America
Revionics’s 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 sustainable competitive advantage with a clear path to profit. Learn more.