Category Archives: Retail Price Optimization

Retailers, What’s In Your Price Optimization Playbook?

Using science as the key to actionable insights buried in big data, retailers have found they can effectively manage their inventory, set and get the right prices year-round, minimize markdowns, and, ultimately, perform profitably. To accomplish this, a Price Optimization Playbook is in order. Retail technology solution developer, Dr. Shai Geva, ...
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How Retailers Are Using Price Optimization Solutions To Increase Profits

Retailers (finally) are realizing that the driver of their profit is price optimization. In short, using science to price right and reduce the compulsion to discount. A recent Bloomberg article showed both Ralph Lauren and Michael Kors reporting headway in profits — by offering fewer markdowns, executing better management of their inventory, and...
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Back To The Future With Predictive Analytics

Here’s a guest article by ecommerce entrepreneur Patrick Foster.     Patrick writes: Big Data can be, and usually is… unstructured, unwieldy, and overwhelming. The secret to success with big data is knowing that it’s quality, not quantity, that counts. Some companies are swamped and stymied by big data, while those who zero in on the RIGHT da...
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Don’t Let Your Competitors Determine YOUR Profitability!

In today’s disruptive “retail (r)evolution”, retailers have to fight on many fronts simultaneously in search of The Holy Grail of success and profitability. Multiple challenges pulling on everyone include competition, customers, manufacturing, supply chain, globalism, omnichannel, assortment, pricing right, data analytics, etc.  So, today’s qu...
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Why Predictive Analytics Have Become Essential Technology For Retail Profit

Predictive analytics have quickly become an essential technology solution that retailers are eagerly adopting to compete and survive in today’s marketplace. Predictive analytics solutions let retailers use science to analyze Big Data… using patterns found in historical and transactional data to uncover actionable insights and opportunities, to ...
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How Today’s Retailers Are Striving To Provide Unique Customer Experiences

If data analytics and price optimization are major drivers at the back end of today’s Retail business, the biggest challenge on the front end is to woo customers through the adroit use of socials — and then win them over with unique customer experiences in the store. Here are just a few recent headlines that show the extent to which retailers rec...
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6 Ways Retailers Gain Control By Using Private Labels

In the ongoing quest to leverage products, pricing and profits, retailers now see that offering hundreds of brands in every store is no longer a winning proposition. They appear to realize they have a better chance of reeling in more customers and profits by taking a more aggressive approach with private label products. JCPenney (Dallas Morning New...
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Underpricing & Overpromoting Are Some of the Retail Mistakes Revealed by 2016 RSR Benchmark Pricing Study

For the past few years, RSR (Retail Systems Research) has noted and chided retailers for being slow to adapt to modern market and pricing demands, believing they could win the race by low, lower, and lowest prices, or thinking that just participating in the race (i.e. competing on low price), would keep them in the game. This year’s RSR Benchmark ...
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Amazon Pursues Profitable Fashion Sales With Own Private Label Offerings

Amazon FashionThere’s a lot of chatter in the media lately about Amazon’s quiet foray into fashion private label. As the mammoth retailer casts in every direction for more massive growth, the e-commerce giant has started selling “fashion” clothes under at least seven different labels trademarked by the company itself. A major reason for this is that fashion sal...
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How Retailers Are Pricing For Profit No Matter The Season

EPSON scanner image“Bah humbug”, said Ebenezer Scrooge — until he was shown vignettes of his Christmas past, present, and future (in Charles Dickens’ novel, A Christmas Carol). This year, it seems that retailers, with the use of predictive analytics, are finally taking a good look at their Christmas past, present, and future — with regard to when it’s appropriate ...
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Predictive Analytics: A Retailer’s New Best Trend!

Illustration Of Service Oriented Layered Architecture And Global Business In A Business Hands And Th

Retailers are finding that the path to optimal and dynamic pricing and increased profit margins goes through predictive analytics. To properly capitalize on nascent scientific solutions, retailers have to: Determine how the technology fits into their company culture; integrate the technological capabilities with existing support systems; involve k...
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How Retailers Are Boosting Gross Margins Up To 37% Using Merchandise Analytics

In today’s fast-moving, competitive marketplace, every retailer needs to have the right product at the right place at the right time in order to make the sale and recognize the greatest profit. Simultaneously, retailers and technology providers have recognized that it’s not just about the price. Using a Suite of Retail Intelligence Solutions tha...
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How Price Intelligence Can Help Retailers Win Nearly Every Poker Pot

When I talk with prospects about choosing the best pricing intelligence solutions, I tell them to visualize a poker game where they win the pot regularly and consistently. As you know, in the game of Poker, you are dealt a certain set of cards on which you must base your bidding. You bet on whether you think you have the best hand and then compete ...
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