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As the Holidays Approach, it’s Time to Rethink Retail Pricing Methodology…and AI Can Help

Retail TouchPoints

In addition to this timing variation, over 60% of shoppers plan to do their browsing online, yet 85% expect to buy at least one product in a store. In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? And don’t forget the shopper looking for that end-of-season deal.

Markdowns 278
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Adobe: Consumers Will Spend More Online in First 10 Months of 2021 than All of 2019

Retail TouchPoints

Online retailers also are enhancing their ability to get the most out of each transaction: Retailers are getting more people to hit ‘buy,’ with conversion now at 4.1% Shoppers are making larger purchases , with average order value up 13% at $169. on desktop (up 1%) and 1.9% on smartphones (up 3.7% ) in the first eight months of 2021.

Consumer 262
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How Woolies is using 2D barcodes to increase sales and transparency

Inside Retail

“With this next generation of barcodes, there’s a real opportunity to connect with consumers in ways we haven’t before,” explained Richard Jones, chief marketing officer at GS1. Their journey began in 2017 with just loose produce. “At This means you can scan and weigh the product, instead of looking it up in the look-up screens.”.

Markdowns 130
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Forever 21: 4 Reasons it Failed & Filed for Bankruptcy

Indigo 9 Digital

Retail is littered with stories like this one, about companies that were once at the top but are no longer relevant. Each step is highly digitized and integrated with another, which allows the company to churn out hundreds of new products tailored to different regions and user tastes at a daily rate. Think Sears.

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Meet Lindsay Nicholas, the fashion designer bringing NY edge to Melbourne

Inside Retail

LN: A chance chat with a handsome Aussie (who would become my husband) at a little sushi restaurant on 49th Street in Manhattan brought me initially from NYC to Sydney 11 years ago and then to Singapore, and then to Melbourne. Of course, life doesn’t always turn out as we plan, and we wound up moving to Melbourne in 2017.

Fashion 130
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What Are Trade Promotions and How Can You Make Yours a Success?

Wiser

Trade promotions are marketing campaigns and promotions organized by brands that are aimed at increasing sales within a retailer, sweetening the pot for both the store and the shopper. Here are some of the most common types of trade promotions: Discounts and markdowns. What is a Trade Promotion? Understand the Customer.

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Advanced Retail Pricing Strategy: Unifying PPMO (2022)

Retalon

This is one of the main reasons why leading retailers are bolstering their retail pricing strategy by investing in UPPMO (Unified Price, Promotion, and Markdown) solutions. Top retailers achieve smooth cross-channel operations with the use of Unified Pricing, Promotion, and Markdown Optimizations solutions. Let’s find out.