Optimizing Prices in an Omni-Channel, Price-Transparent World
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Abstract:
Pricing pressures on retailers are coming from multiple directions today.
Consumers’ non-linear shopping patterns have made customers more
aware of, and sensitive to, retailers charging different prices in different
channels. The flood of smart consumer mobile devices has made
price transparency a fact of life for a large and growing segment of
the industry. The stalled economic recovery has increased the pool of
bargain-hunters, making it more difficult for retailers to improve their
margins by raising prices without harming customer loyalty.
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Pricing in Inflationary Times
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Abstract:
Never before have today’s retailers encountered the confluence of so many difficult market conditions. It all adds up to a
difficult-to-crack puzzle for retailers seeking pricing strategies that will keep consumers buying yet preserve margin. This white paper will provide ways in which retailers can optimize their pricing strategies to remain strong in these challenging economic times.
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Price Optimization for Retailers
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Abstract:
Pricing strategy has always been an important consideration for successful retailers; however, recent advances in the science and heuristics that drive price optimization are delivering significant benefit to sellers of fast-moving retail goods. This paper examines the emergence of price optimization, explores its relationship to retail goods, suggests best- practices, and highlights the challenges organizations typically face during adoption of a price optimization program.
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Distinguishing Price Optimization from Rules-Based Pricing
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Abstract:
Pricing represents both tremendous opportunity and high-risk challenge for today’s retailer. Current pricing methods have left many retailers playing a game of "follow the leader" behind market competitors. This white paper will discuss the way that price optimization systems listen to and interpret shopper behavior, predicting the best price for retailers to appeal to consumer demand.
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Second-Generation Price Optimization
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Abstract:
Early adopters used first-generation systems to analyze ever-growing volumes of sales data and bring science to the art of retail pricing. But now, second-generation price optimization systems are revolutionizing retail operations management. This white paper discusses second-generation systems and how they are derived from advanced mathematics, statistics, and econometrics to bring promises of first-generation systems to fruition.
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Retail Pricing Strategy Insights & Opportunities
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Abstract:
Pricing strategy plays a critical role for retailers of all sizes. As advances in science and technology allow retailers to integrate real-time consumer demand data, competitive activity, along with pricing rules, creating and implementing a sophisticated price strategy is emerging as a powerful opportunity for retailers to increase revenue and profit.
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Impact of Seasonality on Life Cycle Pricing
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Abstract:
Seasonality can have a dramatic impact on how, when, and what products are purchased throughout the year, making it an integral part of retail pricing strategy. This white paper discusses the role of seasonality as it relates to demand, and how retailers can use price optimization software to translate seasonal buying patterns into measurable, predictable, and profitable pricing strategies.
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Science Propels New Era of Pricing
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Abstract:
Most retailers know that technology plays a critical role in setting retail prices. But until recently, these efforts have been rooted in advances in computing technology, rather than in newfound applications of scientific principles. This paper explains why retailers can no longer thrive without a science-based pricing system, defines and illustrates the right science-based approach, and calls out the key features and functionalities of leading science-based price optimization systems.
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Price Elasticity and Its Applications
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Abstract:
Elasticity is the key to understanding how pricing and pricing decisions will influence retail customers. This white paper introduces the concept of price elasticity, cause and effect of variations, and examines practical uses of elasticity calculations for retailers that lead to improved sales, profitability, and customer satisfaction.
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Selecting a Price Optimization Solution
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Abstract:
While the view that price optimization is a critical component of the retailer’s go-forward strategy has been widely supported by industry analysts, less has been written about the relevant considerations in selecting a price optimization solution. The focus of this white paper is to provide guidance to the retail executive who is evaluating price optimization solutions.
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Software as a Service: A Better Approach for Retailers
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Abstract:
For retailers of fast-moving consumer goods, price optimization software has become a must-have tool. As the pace of development and complexity of modern price optimization systems continues to evolve at unprecedented speeds, more retailers are discovering the value of Software-as-a-Service (SaaS). This white paper discusses the top-10 benefits of SaaS for price optimization software.
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Grid Computing in the SaaS Environment
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Abstract:
Retail planning applications such as pricing, promotions, and markdown require weekly, daily, and on-demand processing to leverage the most up-to-date data and enable retailers to optimize profit and revenue. SaaS Grid Computing shares resources among many retailers and provides much more efficient use of hardware. This paper discusses how grid computing surpasses on-premise applications in meeting retailers’ planning and data processing needs.
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