Pricing

Be afraid. Be very afraid. Pricing is getting scary, says Jon Manning, founder and managing director of Pricing Prophets and resident pricing expert for Upstream Commerce in this dynamite video about ten things retailers should worry about with regard to competitive pricing today.

With J.C. Penney’s new pricing structure echoing that of Wal-Mart’s EDLP model, the most recent Retail Ratings Reports from BIGinsight indicates both retailers could face challenges when it comes to the women’s clothing category. For years Wal-Mart has led Kohl’s in the category, however, in November of 2011 Kohl’s surpassed the discounter and the two have been tangling for the top position ever since.

Ikea's new kiosk-based loyalty program IKEA FAMILY has already attracted more than 1.6 million members since its launch a few months ago. IKEA FAMILY offers special offers and benefits to customers, as well as program-branded merchandise and promotional events, Diane Zoll, manager of IKEA FAMILY US, said in a company press release. "Not only are there now millions of members, but members are highly engaged and spend more when they visit Ikea," Zoll said. The membership journey begins in-store at the FAMILY Shop, which features unique FAMILY-branded merchandise that members can use every day, from backpacks to bathrobes, with members-only prices.

I've always thought of ladies with bags covered in designer logos as walking advertisements. However, I understand and appreciate the high-quality materials and level of craftsmanship that comes with the premium price tag. Being one who is drawn to deals and always wanting a bargain, I turn to flash-sale sites to look for designer goods. Recently, I visited Gilt.com, a flash-sale site that offers lower prices on luxury brands, and found the perfect bag for spring. I definitely felt guilty for coveting a tote that was equal to two round-trip tickets to the Caribbean. 

Today's world is a transparent one. Shoppers can search for price information while in-store and find another price locally or order online — all with nothing more than a smartphone and the appropriate app. Clearly competing on price, while only partially effective 20 years ago, is an exercise in futility today.

Want to know what deals retailers offer most? Curious where on a retailer’s website you can find these deals? SteelHouse’s latest infographic takes a look inside retailer deals, discounts, offers and more.

dressbarn has launched "Share your (MOM)ent," a social and interactive campaign for Mother's Day. Consumers are encouraged to upload their (MOM)ent — a photo, video or written memory of anyone who has ever given them a warm and fuzzy mom-like feeling — and to share it with others via social networks and a customizable e-card. Additionally, consumers can vote on (MOM)ents shared by others. Ten winners will be selected from the top 50 entries with the most votes and will each receive a spa day for two.

Price trumps sales and special deals, customer service, and convenience as a factor in deciding where to shop for the majority of U.S. consumers, according to The NPD Group, a leading market research company.

Gift card sales are expected to reach $100 billion in 2012, but after years of being a win-win for retailers, consumers are starting to take back the gift card power thanks to a highly profitable market: gift card resale.

Amid increased competition online to win shoppers’ discerning budgets, several midtier retailers have signed up with an online startup Netotiate (which it said means negotiate over the net) to allow shoppers to negotiate merchandise prices with them online.