Given the recent sales disruptions and store closings due to COVID-19, David Barach, Vice President of Marketing & Pricing Analytics, provides key elements for retailers to consider in the pricing space during this period to help manage the situation now and prepare for what’s next.
Best of breed retailers are operationalizing inventory fluidity to both reduce lost sales and raise margins in how they fulfill demand. However, doing this without an understanding of future price effects risks offsetting margin and sales gains. David Barach provides a short overview how retailers can capitalize on this with antuit.ai, while avoiding a quagmire being overwhelmed by individual detail decisions. Watch the 1-minute summary video.
Pricing Solutions have been around for many years in retail, and commonly the question is asked: Well, do they work?
Unfortunately, the answer is not easily determined because it has been challenging to decide what is meant by success and even harder to measure success. Measurement needs to be built into pricing projects from day one, and these measurements need to align with the pricing activities.