Category Archives: Retail Intelligence

How Retail Intelligence Helps Make Customer Experience Personal Again

If a customer can get anything they want, anywhere they want, any time they want these days, the retailer has to be price competitive — and more.  One of the biggest trump cards retailers have is to use retail intelligence to personalize the particular experience to make it memorable and satisfying to the customer. The old days of retail knitted t...
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5 Drivers Of Intelligent Retail Competition: Mobility, The Cloud, Data Devices, Analytics & Pricing

In “Transforming Business In Retail,” Microsoft experts discuss with GigaOm “the internet of things” in retail today.  The question is: When it comes to Intelligent  Retail Competition, how do systems create rich, personalized customer experiences and drive operational efficiency in retail intelligence?  The experts say: Mobility is having a tr...
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The Ideal Pricing Intelligence Solution

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 opportunit...
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10 Reasons Price Matching Is A Risky Strategy: Ask Walmart, ToysRUs & Best Buy

What started as a competitive pricing strategy has turned into a bad dream for Walmart, ToysRUs, Best Buy and their customers. These, and other big retailers are running into flak because the price matching experience promised in the store is most decidedly not as expected, and some shoppers are angry enough to stop shopping there, reports a Bloo...
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Find Out How A Retail Winner Increased Customers By 35% In Three Months! (IBM White Paper).

Winners Losers Leaders Laggards. This might be a good name for a John le Carre novel, but it’s analyst-speak for identifying leading (or lagging) retailers.  What are the differences between retail leaders and retail laggards, and what are the vital statistics that set leading marketers apart from the crowd? According to a recent white paper from ...
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When It Comes To Competitive Pricing, How Low Dare A Retailer Go? (Marketoon)

“You can’t continually cut product costs without eventually being left with an empty box” is the premise for Tom Fishburne’s Marketoon this week (below), showing the constant pressure in business to improve margins through cost-cutting. Cost cutting, according to Fishburne, is still important this year, when consumer confidence is still unsettled a...
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6 More Reasons Assortment Optimization Raises Retailers’ Success Levels

Since product assortment is at the core of every business’s existence — and those assortments can be in footwear, appliances, electronics, jewelry, household goods, furniture, clothing, books, accessories, tools, handbags, pet supplies, drugs, medications, groceries, etc. — price & assortment optimization — the better you stock, price, and sell th...
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How Retailers Can Key Into Actionable Big Data Competitively

A January 2013 Infographic, below, from Monetate examines what types of data marketers are collecting, areas where retailers struggle to tap actionable Big Data competitively, the biggest obstacles to actionable data, and how to master this data. Starting with “Marketers Know Data Matters,” 100% of the CMO’s acknowledge successful brands use custo...
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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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10 Powerful Guidelines For Choosing The Best Retail Pricing Intelligence Software

Pricing intelligence software tools are being used by retailers around the world to compete more effectively, increase sales, and grow profit margins through the use of advanced automated real-time intelligence-gathering and analytics. According to trend-followers, this is the Year Of The Pricing Intelligence Tool. Choosing the right pricing and as...
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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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6 Compelling Reasons Every Retailer Should Track Competitors’ Prices Daily

On any given day, retailers can attend workshops or webinars, read blogs, white papers, reports, or newspaper articles, and get advice on marketing, customer care, big data, social media, and use of mobile in shopping. It’s surprising how many retailers overlook the BASICS — assortment and pricing — the foundation on which their business should be ...
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5 Ways Retailers Can Make More Profit By Reducing Product Assortment & Managing Websales Like Costco Does

Costco and Product Proliferation: In my book, Competing in Tough Times (New York: Financial Times Press, 2011), I discussed a number of issues relating to product proliferation, which reflects on the whole subject of product assortment, assortment planning, and assortment management. There are two major reasons why retailers offer their consumers ...
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