Technology has infiltrated every aspect of our lives and today’s consumers possess more internet-connected devices than ever before. Laptops, tablets, phones and smart watches have made our lives easier and our connections more seamless, and this includes the shopping experience.
Regardless of product or industry, pricing strategy is deservedly one of the most deliberated aspects of any business. While many businesses today search for the fabled sweet spot that will easily bolster profits, they oftentimes fall victim to the same old-fashioned pricing mistakes.
Retail supply chains have grown more and more complex, and companies must have end-to-end supply chain visibility to prepare for unexpected changes in demand. As such, retailers should explore practical, relevant ways to predict demand, while continuing to deliver quality, omni-channel consumer experiences.
The key to maximizing the customer experience, and by extension revenue, hinges on delivering contextual and relevant communications through real time customer engagement. But for many retailers, this means engaging with tens of thousands of customers making online purchases via laptops, desktop and mobile devices, as well as in-store shoppers.
Consider the number of flights you’ve taken this year. Whether booking a last-minute business trip, or planning a family holiday, we’ve all spent time searching for the best flight price in this highly competitive and dynamic marketplace.