Pricing
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
A new study from IDC predicts retailers will spend $5.9 billion this year alone on artificial intelligence (AI) tools like automated customer service and product recommendations. Furthermore, 79 percent of retail and consumer products companies expect to use intelligent automation to learn more about their customers by 2021. Yes, retailers are making big investments inโฆ
Much has changed in the retail landscape, from the relentless rise of the power of the shopper vs. the retailer, to an explosion of online and brick-and-mortar competitors, to the ease with which consumers can compare prices and promotions across all channels, brands and retailers with a few taps on their mobile device. Some coreโฆ
The ever-analyzed millennial generation โ currently the largest in history โ is expected to spend $1.4 trillion annually by 2020. Their ballooning spending power is matched only by their love of all things digital. Shopping is no exception. Seventy-nine percent of millennials browse the internet before making retail purchases, whether in-store or online, and thatโฆ
Many online retailers invest significant resources in email marketing to drive new and existing customers to their sites. Of course, too many emails can cause email fatigue, tuning customers out and weakening brands. There are certainly other ways to drive traffic, such as paid search and digital advertising, but these approaches come with a price.โฆ
Millennials are a unique segment of the consumer marketplace. They do things differently than the generations that precede them and arenโt afraid to make their opinions known (and often very loudly). In particular, businesses are learning that millennials are extremely price sensitive. The Millennial Psyche According to data gathered and published in an IRI survey,โฆ
In any difficult situation, cut the price. Thatโs the basic rule omnichannel consumer electronics retailers use when setting prices. And copy the moves of your competitors. Thatโs rule No. 2. If a retailer suddenly changes the price for a particular product for a specific reason โ e.g., lowering the price to liquidate excess inventory โโฆ
The trade war with China has been cited as a primary cause of much of the recent economic volatility, from the stock market dive last fall to fluctuations in oil prices. While it's clear that tariffs are creating some level of instability as companies and investors try to guess what will happen next, many retailersโฆ
In a survey conducted by Coresight Research and Celect, more than 200 senior retail decision makers shared their views on top areas of concern around inventory decisions and the correlation to key performance indicators such as full-price sell through, markdowns, stockouts and margins.