Pricing
The retail industry is feeling the effects of 15 percent tariffs imposed on Sept. 1 on a wide range of consumer imports, and is bracing for the impact of their expansion to additional goods on Dec. 15. These tariffs cover a total of about $300 billion worth of imports from China. Increases on tariffs imposedโฆ
Apparel retail is infamous for extremely short collection cycles. This means that businesses are always pressured to get rid of old or surplus inventory to make room for new collections. In this time-sensitive scenario, retail teams usually prefer to clear off shelves at all costs. In many cases, retailers launch promos which attract customers andโฆ
Despite the availability of voluminous shopper data and advanced analytics, many consumer packaged goods (CPG) companies leave revenue on the table by failing to optimize the link between product pricing, product development and marketing. Marketers rely primarily on elasticity as the primary factor when setting pricing, and think less about how to move the curveโฆ
A new survey about the impacts of product tariffs from Intelligence Node, a proven innovator in retail analytics technology, reveals that consumers are concerned that retail prices will soon be on the rise. More than 1,000 respondents took part in sharing their sentiments on impacts to retail pricing as a result of new tariffs goingโฆ
In my previous article on retail pricing excellence, I discussed how traditional retailers are facing threats from all corners. Domestic and foreign competitors, direct-to-consumer (D-to-C) brands, and entrants from nonretail sectors are fighting for market share. Against this competitive backdrop, shifting consumer preferences, high-end expectations, and new business models are adding to the pressure. Toโฆ
Now that summer is coming to a close, retailersโ thoughts are turning to planning and strategies for the all-important holiday season. The season spans Black Friday to Cyber Monday and through the varied landscape of early shoppers who plan ahead to last-minute shoppers who crowd stores and websites in the last days before Christmas. Retailersโฆ
Shoppers cite the price of a product to be the primary reason to choose purchasing it from a particular retailer. In fact, as many as 60 percent of consumers opt for a seller with the optimal price. In most cases, consumers compare prices offered by retailers for so-called key value items(KVIs). They value such products theโฆ
In the time of Amazon.com, e-commerce and direct-to-consumer (DTC) brands, traditional retailers are continuously having to grapple with how they can compete, and price remains the primary battleground. We're all familiar with the dollars and cents logic behind selling products and maintaining margins, however, winning on price is about more than just hard, tangible figures, it'sโฆ
As retailers fight to win online market share, they're forced to up their game and push boundaries to meet customer expectations. The reality of competition in todayโs cutthroat world of e-commerce translates into companies looking to one up or match their competitors, which is doing more harm than good to the industry. Many online retailersโฆ
The ongoing saga around Bed Bath & Beyond continues to send ripples throughout the retail industry. Once the pre-eminent home goods brand, Bed Bath & Beyond is in the midst of massive upheaval as it struggles to cope with the pressure it's facing from discounters and online pure-play brands, particularly when it comes to pricing.โฆ