Pricing

How Dynamic Markdowns Can Help Mitigate Food Waste
January 2, 2024 at 8:30 am

The United States has a startling food waste problem, much of it caused by the grocery retail market. Thirty percent of food in grocery stores is thrown away in the U.S., and 16 billion pounds of food is wasted by retailers every year, according to RTS data. In fact, the food that grocers waste is…

How AI-Powered Pricing Software Can Improve Decision Making for Retailers and Suppliers
December 18, 2023 at 7:26 pm

With signs that retail sales are slowing and inflation remaining stubbornly elevated, more businesses are turning to artificial intelligence (AI)-powered pricing software to maximize revenue and protect operating margins. While cost cutting will always be important, it's this focus on the top line that now creates lasting competitive advantage. The momentum behind AI shows no…

What Does November’s Discount Explosion Say About the State of the Holiday Consumer?
December 12, 2023 at 5:56 pm

It’s fair to wonder whether merchants will soon pull their hands down from happy high-fiving over strong November sales and begin wringing them over the ample discounts they offered inflation-weary consumers during Cyber Five 2023. The long Thanksgiving to Cyber Monday weekend was a selling success, with e-commerce sales up 8 percent over a year…

Price Pressures Persist: How Retailers and Brands Can Navigate Changing Shopping Behaviors
October 5, 2023 at 11:37 am

As inflation persists, consumers are continuing to be cautious and experience stress. Financial reports from large retailers indicate a transition from discretionary spending to a focus on essential needs, an indicator of monetary strains among consumers. A New York Times article, “U.S. Consumers Are Showing Signs of Stress, Retailers Say,” notes that despite the resilience of…

Simon-Kucher Retail Exec Talks Consumer Behavior and Holiday Planning
October 4, 2023 at 6:15 pm

In this episode of Total Retail Tech Insights, Editor-in-Chief Joe Keenan interviews Shikha Jain, partner and head of North American retail and consumer at Simon-Kucher, a global commercial growth and strategy consulting firm. Listen in as Jain discusses the work that Simon-Kucher does with retail organizations and the positive impact that it has had on…

Adobe: Online Prices Fall 2.6% in June, a 36-Month Low
July 11, 2023 at 5:59 pm

Online prices in June 2023 fell 2.6 percent year-over-year (YoY), the most significant decrease since May 2020, when prices fell 1.5 percent YoY, according to the latest online inflation data from the Adobe Digital Price Index. June marks the 10th consecutive month of YoY price decreases, with over half of Adobe’s tracked categories (11 of 18)…

Understanding and Optimizing Pricing and Promotions
June 22, 2023 at 11:50 am

Today’s shopper behavior is changing faster than ever before. Typically, shopper behavior changes are slow and steady – like making course corrections on a big ship. However, with the highest inflation in 40 years, we are seeing material changes in shopping habits on a much shorter timeline. The Why Behind Price Increases The average shopping…

3 Strategies for Retailers to Stay Competitive in the Face of Inflation
June 1, 2023 at 3:23 pm

Consumers and businesses are both being impacted by ongoing inflation. Retailers must change their tactics in the current economic environment. They must understand the trends that have developed as a result of this inflationary environment in order to respond. In this post, I'll look at three tactics retailers may use to weather the current economic…

Inflated Prices, Deflated Consumers: The Impact of Price Increases on Shopper Behavior
April 5, 2023 at 4:18 pm

The rising cost of consumer packaged goods (CPGs) is more than a grocery and retail store annoyance. From social media to the Grammys, U.S. consumers are vocalizing their inflation frustration — and pointing fingers at who they think is responsible. Many feel that brands themselves are behind pricing increases (and with good reason). The New…

6 Tips to Help Retailers Mitigate Inflationary Times
March 29, 2023 at 1:33 pm

With the lingering effect of inflation, consumers are facing new woes and worries that are reflected in their spending and shopping habits. These inflationary pressures will continue to impact shoppers’ habits, and retailers must adapt quickly to ensure they don't miss out on the next decade of growth and profit potential. Recent consumer research tells…