article thumbnail

10 Leading Strategies for Pricing New Products (2021)

Retalon

But in today’s dynamic and data-rich retail environment, leading retailers are leveraging the power of AI to deliver more powerful insights into pricing strategies. Ten pricing strategies for new products. Price skimming can work with consumer technologies that have unique features or demand from early adopters.

article thumbnail

5 Highly Effective Retail Markdown Strategies that Work in 2021

Retalon

And since most markdowns are not planned for in advance (or at least accounted for in the pre-season planning stages), they frequently drain profits considerably more than they have to. Use alternative pricing strategies in your markdowns. A straight price cut may not be the best way to mark down end-of-life products.