Category Archives: Competitive Pricing Strategy

Price Optimization Survival Guide For Retailers

“Failing to use the proven science behind price optimization technologies has become a true inhibitor for retailers,” observed the RSR researchers in the conclusion to their recent pricing survey, the Pricing Paradox. And, although the stated position of RSR Research is “to focus on the business challenges and opportunities that technologies can...
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9 Future Retail Competition Trends

As holiday retail sales for 2013 showed gains of only 3.8 percent while predictions were for a 3.9 percent uptick from 2012, retail experts and analysts have singled out a batch of prob...
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How Best Buy, Target & Nordstrom Executed Their Holiday Shopping Strategies

When I was in Minneapolis for Thanksgiving, I effected my own informal holiday shopping survey. I took a look at the crowds and merchant behavior and came, pretty much, to the same conclusions as Steve Rowen, one of the RSR principles, who wrote of his experience and observations in Black Friday Boston: The End of an Era.” Rowen wrote that Black...
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Price, Convenience Or Service? Which One Is Most Important To Holiday Shoppers?

According to the National Retail Federation (NRF), 141 million unique shoppers went shopping during Thanksgiving weekend this year, a slight increase over 2012. However, average spending decreased by 3.9% from last year, which NRF attributes to lower prices. Starting well before Thanksgiving and continuing through this weekend, retailers have been ...
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How Demographics Play A Part In Customers’ Price Satisfaction

With customer empowerment at an all-time high, which emphasizes the need for astute competitive pricing strategy, a company providing customer feedback insights studied how satisfied real customers are today. The study performed by the CFI Group — Based on American Customer Satisfaction Index (ACSI) — measured six elements of the customer experien...
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7 Simple Pricing Secrets For Retailers To Put In Their Pricing Strategy Planbooks

Retailers will be delighted to know that you don’t have to price low to get the customer to buy; but you do have to give your Retail Pricing Strategy context and atmosphere, and understand the predictably irrational behavior of people. Here are: “7 Ridiculously Simple Secrets For Retailers To Price Effectively & Make More Money.”* The best thing abo...
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As Walmart Has Kids Pick Hot Holiday Toys For 2013, ToysRUs & Kmart Launch Retail Offensives

Coming to a retailer near you this holiday season: Toy Wars. Created by Walmart, contested by ToysRUs and Kmart; playing to a potential audience of billions — with each retailer hoping to realize big return on their holiday investments. The back-end of this story is that Walmart brought the toy wars home this year — literally — by inviting 1,000 ki...
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9 Ways Walmart, Best Buy & Other Retailers Seek To Beat Amazon At The Competitive Price & Distribution Game

Big Retailers, confounded while Amazon priced lower AND delivered the pants off of them, have gone to school on the online giant and are fighting back on a variety of fronts. Here’s how some of the well capitalized and profitable retailers like Walmart, Best Buy, and Bed Bath & Beyond are meeting Amazon on the multi-front battlefield — as they ad...
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10 Important Lessons Retailers Can Learn From Microsoft & Ballmer’s (Failed) Competitive Strategies

Last Friday’s headlines included the surprise announcement by Microsoft CEO Steve Ballmer that he will “retire” within the next twelve months — following a lot of wrangling about Microsoft’s future and the company’s last ten years of failed competitive strategies. When Ballmer took control in 2000, Microsoft was one of the most powerful and feare...
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11 Ways Ron Johnson Presaged His Own Disaster At JCPenney (But Nobody Noticed)

Hopefully JCPenney is getting back on the fast track, although I can’t resist the prescience of this Fast Company interview with Ron Johnson when he BECAME Penney’s new CEO. Many wrote that they believed Ron Johnson failed ostensibly because: 1. Penneys wasn’t Apple. 2. He misread what shoppers wanted. 3. He didn’t test ideas In advance. 4. He alie...
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What Retailers Can Learn From Penney’s (Failed) Competitive Pricing Strategy

Penney’s painful, two-year-long fiasco regarding strategy, pricing, and customer reactions is bound to become a retail case-study for the Harvard Business School — or maybe a movie — wags Josh Lennox in RIS. Where did JCPenney go wrong? Competitive pricing strategy, say some. Confusing the customer is another. But the most egregious is that they d...
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9 Effective Habits Of Online Retail Winners

By now, we all know the drill about the online retail marketplace: It’s global and transparent, growing exponentially; social, mobile and omnichannel usage proliferates; consumers are more savvy and...
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3 Simply Brilliant Fixes For Your Retail Pricing & Assortment Competitive Game Plan

Are poor metrics affecting the believability of your bundling? Sales force not executing your pricing properly? Is lack of a playing plan keeping you from saving money and making money? Here are some quick, easy, and brilliant tips from a recent podcast by President of Pricing Solutions Ltd., Paul Hunt. These ideas are all excellent. Just as a win...
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