In today’s cut-throat retail landscape, promotions, which account for 10 percent to 45 percent of total revenue, are a double-edged sword. On the one hand, they can potentially boost sales and significantly improve brand visibility. On the other hand, poorly executed promotions can lead to decreased margins, customer frustration, and even brand dilution. Traditional retail…
Majaz Mohammed
In an economic landscape filled with challenges, dynamic pricing emerges as a vital strategy for retailers aiming to maintain and enhance their market presence. According to McKinsey, optimizing pricing decisions could significantly impact profits, indicating that a minor 1 percent price increase might lead to an 8.7 percent profit boost. This modern approach to pricing,…
Shoppers will likely be greeted by empty shelves or website stock-outs during the 2021 holiday season. It’s a perfect supply chain storm of increased demand and severely constrained supply and labor. Pent-up demand from the pandemic is leading to increases in both online and in-store orders while COVID-19-related restrictions, combined with container shortage, labor shortage,…