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Recharge Your Digital Pricing Strategies with Data Science

Retail Focus

As other sectors, including travel and hospitality, experienced online commerce surges, the retail market shifted at a more leisurely pace. Let’s look at three ways that data science can help retailers thrive in a highly competitive multi-channel environment. By Craig Marion , Global Product Leader, DemandTec. for two weeks.

Markdowns 200
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Guide for Unified Price, Promotion and Markdown Optimization Applications

Retalon

Getting your product pricing right is absolutely critical to customer cross-channel experience, but the promise of unified price, promotion and markdown optimization is hard to achieve. In this report: Market Definition. The post Guide for Unified Price, Promotion and Markdown Optimization Applications appeared first on Retalon.

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As Consumer Demand for Inclusion Rises, Retailers Must Tackle Legacy Issues and Attitudes

Retail TouchPoints

Because of efforts to address this mismatch of product and real-world sizing, Coresight Research estimates that the value of the extended-size market for women will grow to $32.3 this year alone, representing approximately 21% of the total women’s apparel market. billion in the U.S. Challenge 3: Pricing.

Consumer 290
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Evaluate your Business’s Inventory Planning: Here’s a 10-Point Checklist

Retail Smart Guys

If you attain a score lower than eight, you definitely need to raise your game, especially in this competitive retailing market. With Retail Smart Guys , your current inventory will be analyzed and, if necessary, be reclassified according to your business needs. Ensures a continuous supply of production materials. ?

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6 Ideas to Get Your Fair Share of Sales

Retail Adventures

Be Prepared for Markdowns. A markdown plan for every piece of merchandise that you purchase is a smart idea. You have product that has been sitting dormant on your shelves for the 60+ days your store was closed; a clearance strategy for those goods is important. Or strategy.

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Key Tips for Leveraging Personalization in the Retail Industry

Retalon

Consider high-end fashion labels like Louis Vuitton that simply refuse to undercut premium pricing or even offer any markdowns. A luxury brand, for example, may offer a higher level of service to individual customers, but avoid things like items or prices particular to a region, so as not to dilute the brand value.

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Personalization vs. Consistency in the Retail Customer Experience

Retalon

Consider high-end fashion labels like Louis Vuitton that simply refuse to undercut premium pricing or even offer any markdowns. A luxury brand, for example, may offer a higher level of service to individual customers, but avoid things like items or prices particular to a region, so as not to dilute the brand value.