Tag Archives: Competitive Price Analysis

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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“List Prices” Have Become Slippery Slope for Retailers, Customers & The Law

Marketing StrategyRemember when price tags had information on them like: “Valued at, compared to, marked down from, or manufacturer’s suggested retail price? In recent years, many retailers have been hauled into court for “false and misrepresentative” advertising — for comparing the discounted price to list prices that were inflated o...
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Fewer Promotions In Store For Holidays 2015: Upstream Commerce

Charts Avg Discount 150There are definite shifts in the way large retailers are discounting during the holiday season.  By analyzing 300,000 products of seven large fashion retailers during the holiday seasons of 2013 and 2014, retail intelligence leader Upstream Commerce uncovered important trends and promotion strategies that hint at what may be in store for consumers...
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Predictive Analytics: A Retailer’s New Best Trend!

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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 Predictive Analytics Are Revolutionizing Retail

Guess what? Analytics of the future are… already here! Using data-driven insights derived from predictive analytics, retailers are empowering themselves to offer top selling items to the right customers at the right times, at the RIGHT PRICE, at the right locations (in-store and online), and more. Insights derived from the data lead to strategie...
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6 Powerful Paths To Profit Using Predictive Analytics 

Dump that shirt that isn’t selling well. Delete SKUs with low sales. Don’t carry that product line because no-one’s buying it. Jack your prices around because that’s what your competitors are doing — and in real time. Right? Well, the answer is a resounding: Don’t do it! Here’s why: It’s every retailer’s dream scenario to know what the consumer wan...
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Big Data Analytics: The 2% Solution and Other Real-Time Retail Pricing Secrets

Today’s retailers are reaching for top-line growth and increasing market share through collecting, assessing, prioritizing and executing Big Data analytics, with the latest challenge: Dynamic Pricing in real time. According to a RIS March 2014 Report, “Supercharging Predictive Analytics with Big Data,” 28% of retailers feel pressure to evolve from...
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5 Vital Questions Every Retailer Should Ask When Choosing Their Retail Intelligence Solutions

A funny thing happened to me at the eTail West conference in San Antonio, Texas earlier this month: I realized that many retailers don’t fully appreciate the vast differences in the capabilities and offerings of “pricing intelligence” providers. Many of the folks with whom I spoke seemed to think that there are a number of vendors, all doing and of...
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7 Ways Humans Crucial In Predictive Analytics Of Pricing

The Big Data juggernaut — miraculous and awe-inspiring — rolls along.  On the one hand, data volumes have become so large that oftentimes only advanced analytics and other data analysis technologies can make sense of them. On the other hand, humans can glean valuable insights from data that escape even sophisticated analytics software. It’s not en...
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60% Of RSR Survey Respondents Say “Improving Margins” Is Top Retail Pricing Challenge

A just-released RSR Benchmark Research Study on Retail Pricing Practices indicates that retailers are sending an escalating number of price changes to their stores and other channels, due, among other things, to perceived consumer price sensitivity and perceived increased competitive pressures. The study also indicates that the retailers don’t ha...
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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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