Category Archives: Price Optimization

Upstream Commerce Unveils Dynamic Pricer™ Real-Time Dynamic Pricing Solution for Retailers

NEW YORK – Tuesday, April 22, 2014 — Retail Intelligence leader, Upstream Commerce, today unveiled Dynamic Pricer™, the latest tool in its pricing intelligence toolbox, providing retailers the capability to automatically control and change their pricing in real-time based on rules the retailer determines.

“In today’s hyper-competitive market, wit...
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How Can Retailers Grow Profits 11%? Increase Sales, Cut Costs, or Raise Prices?

“When bosses promise to make their companies more profitable they usually say they will do so by increasing sales or cutting costs. But a third road to profits is rarely mentioned: Putting prices up.” (The Economist, July 2013). According to results to a PwC (PricewaterhouseCoopers) survey, The Power of Pricing, many companies in developed economi...
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Apple, Amazon, Price Optimization, Customer Service & Me

What can be learned from my recent experiences trying to buy two smartphones on short notice, online — especially as they relate to Price Optimization, Shipping and Customer Service? On Tuesday, December 3, I went into an Apple Store in Madison, Wisconsin USA to buy a 64 gig iPhone 5s. Easy, right? For business reasons, it had to be an “unlocked” ...
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10 Commandments Of Price Optimization Retailers Don’t Want Their Competitors To Know

Vince Lombardi, inveterate coach of the Green Bay Packers was very tough — and very successful. He had a lot of wise sayings. The most important thing he ever told his teams was: “Winning is not a some...
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The Magic Formula For Retail Profit

Solutions that help retailers set optimal prices are extremely effective levers to improve profitability — by boosting sales, maximizing margins, and moving merchandise. The overall message of recent RIS research, Increasing Profits and Shopper Engagement With Advanced Price Optimization, is that Retailers have to incorporate customer insights into...
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How Simple Web Scraping Can Hurt Retail Competitive Pricing & Assortment Management

With today’s burgeoning technologies, big data mining, savvy connected consumers and overwhelming use of social media, a firm grasp of competitive pricing and assortment analytics and technology is critical to retailers to maintaining a competitive edge. Retailers, more than ever, must use a retail intelligence suite to optimize pricing opportuni...
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Even A Small Mistake in Pricing Will Have Big Negative Consequences For Your Bottom Line (Deloitte Video)

With the understanding that this video on competitive pricing and profitability management by Deloitte is aimed at business organizations, what it says about pricing in general is worth hearing for everyone, especially retailers. Deloitte Principals Julie Meehan and Mike Simonetto, in Pricing and Profitability Management: A lever worth pulling, ta...
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3 Important Price Optimization Lessons You Might Learn In The Strangest Places: Ask Mark Stiving

On his way to attend the Professional Pricing Society meeting in Las Vegas, Mark Stiving picked up some “principles of pricing” from a hooker who struck up a conversation with him as he walked to his hotel. No, it’s not what you think. Stiving boldly decided to ask the woman a few questions about her business and found out how much she knew about...
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8 Secrets To Setting Your Competitive Retail Prices Wisely

Setting prices today is not an easy task for retailers. It wasn’t so long ago when you could simply hire a secret shopper to see what the competition was up to in your geographical area or browse a few online websites for competitive retail pricing information. Now, your retail competition is global and you have to consider many thousands of online...
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How To Use Price Optimization To Boost Total Revenue 4% & Avoid Leaving 10% Profit On The Table

Last summer, in their Hype Cycle for CRM Sales, 2012, Gartner information technology research and advisory company found that companies successfully implementing price optimization realized improvements of 2% to 4% of total revenue or more; the ROI of the price optimization investment was typically realized in less than two years; and that price ana...
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11 Artful Ways Retailers Can Maximize Profits Using Competitive Price Monitoring Software

Competitive pricing is about creating a set of strategies to maximize your company’s profits. To make wise, low-cost, high-result pricing decisions, retailers need to use competitive price monitoring software regularly, to track and analyze competitive pricing changes, i.e. both in real-time and over time to get the true picture of the competitio...
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Why Retailers Need To Use Price Tracking Software For Rational Retail Pricing

There is so much talk about the fiscal cliff and consumer uncertainty these days. Luckily, pricing is one key lever that you can almost always pull to stabilize your business and, thankfully, price tracking software is available to aid with rational retail pricing. Remember, a 1% increase in price can lead to a 11% increase in profit, as discusse...
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Why “Goldilocks Pricing” Is Perfect Competitive Pricing Ploy: Provides Customer Choice & Retailer Profit

Editor’s Note: As we’ve written many times, customers like to feel they are in control of what is important to them. Plus, the more choices consumers have, the more likely they will choose a higher-priced item — and find the money to pay for it. (Large Assortment Choice Increases Shoppers’ Perceived High-End Quality). The findings also highlight ...
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