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The Future of Retail Pricing Strategies in an Unstable Economy

RETAIL MANAGEMENT SOFTWARE

The economy remains volatile, inflation continues to rise, and consumer confidence is on shaky ground. For brands in sectors such as apparel, Footwear, Jewelry, Sporting Goods, Home Goods, and Department Stores, finding the right retail pricing strategies is crucial to survival and profitability. Today’s economy is fluid.

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Product Bundling: What It Is and How to Bundle like a Pro

Wiser

The items paired together could be captive products , like razors and razor blades, complimentary, like a deal on kitchen appliances, or accessories, like smartwatches and replacement watch bands. Product bundling is when two or more items are packaged together for sale at a lower price than the items sold individually.

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10 Leading Strategies for Pricing New Products (2021)

Retalon

The retailer will make more money on less price-sensitive customers early in the product lifecycle before selling to less profitable customers later on. Price skimming can work with consumer technologies that have unique features or demand from early adopters. Bundle pricing. Optional product pricing.

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5 Highly Effective Retail Markdown Strategies that Work in 2021

Retalon

A straight price cut may not be the best way to mark down end-of-life products. Retailers have many other pricing strategies to choose from. Buy-One-Get-One bundle pricing has the financial impact of a 50% price cut, but it doubles the number of units customers buy.