Tag Archives: price optimization

Price Optimization in Retailing

As we have noted before, it is imperative for retailers to have a comprehensive, well-conceived pricing strategy. With that in mind, take a look at the infographic below from Wiser, an online data analytics firm: “Crafting a pricing strategy is an ongoing … Continue reading

Posted in Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Technology in Retailing | Tagged , , , , , , , , | 2 Comments

Do YOU Know When It Is OK to Raise Prices?

Having a superior pricing strategy and implementing that strategy properly are often the keys to profitability (see, for example, 1, 2, 3). With this in mind, take a look at the new E-report “2016 Pricing Regroup: To Hike Or Not To Hike” … Continue reading

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 6: Merchandise Management and Pricing | Tagged , , , , , , | 2 Comments

Online Shopping: Follow the Bouncing Prices

Online retailing enables companies to regularly (instantly, if they like) change the prices they offer — to reflect competition, low or peak seasons, sales of particular items, and so forth. This means, for both buyers and sellers, product pricing is … Continue reading

Posted in Online Retailing, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Technology in Retailing | Tagged , , , , , , , , , , | Leave a comment

Your Retail Pricing Strategy and Your Revenue

We are pleased to present this guest post from Erik Grueter, a marketing associate at Price Intelligently, a Boston Price Optimization company. A link to the firm’s blog is provided at the bottom of this report. ___________________________________________________ Driving profit in … Continue reading

Posted in Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Technology in Retailing | Tagged , , , , , , , | Leave a comment

What Are Optimal Prices for a Retailer?

A key decision for retailers involves setting the proper prices. If prices are too low, then profit margins suffer. If prices are too high, shoppers may patronize competitors. Thus, it is crucial to set “optimal” prices and enact the proper balance … Continue reading

Posted in Online Retailing, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Technology in Retailing | Tagged , , , , , , , , , , , , | Leave a comment