Wiser

SEPTEMBER 18, 2023

Wiser Solutions provides vital tools and insights to help you navigate the complexities of online retail. If products are unavailable, shoppers will choose competitors, which is why it’s vital for retailers to track their out-of-stock rates. Tracking this feedback, both yours and your competitors, is crucial.

Retail Trends 148

Retail Trends Promotions Department Stores Shopping 148

Wiser

SEPTEMBER 14, 2021

Price management. Regardless of your expertise and sophistication around pricing (you might be an analytics type who does actually think price management sounds fun), setting the right price on a product your company builds from scratch is incredibly important. Pick Your Policy: UPP and MAP.

Advertising 148

Advertising Marketing Consumer Management 148

Wiser

JULY 27, 2021

When you think of a strong brand, what comes to mind? An innovative pricing strategy ? No matter what you think of first, there are entire teams behind the scenes working to make that brand strong. It’s one of the oldest adages in business: Your brand is your most valuable asset. Is it excellent marketing?

Markdowns 158

Markdowns Marketing Management Advertising 158

Wiser

FEBRUARY 22, 2021

Like creating a recipe or writing a song, sculpting an effective pricing strategy for your business takes a lot of trial and error. You want your customers to like it and you want it to work well for your business model. The Bird’s Eye View to Optimize Your Pricing Strategy.

Marketing 141

Marketing Point of Sale Accessories Accounting 141

Rangeme

SEPTEMBER 5, 2023

In our previous RangeMe column on consumer packaged goods (CPG) Marketing , we gave a top-level view of understanding your audience, holistic branding, and the types of advertising strategies you need to consider in order to influence merchandise buyers in your niche (click here to read the column). Let’s dive in!

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Consumer Marketing Advertising Promotions 98

Wiser

AUGUST 29, 2022

Most brands today are using what’s called a Minimum Advertised Price (MAP) policy to protect their business from resellers who could otherwise hurt their brand image, and profits, with too-low prices. So, how do you make sure that your brand is covering all its bases? Why Does Your Brand Need a MAP Policy?

Advertising 78

Advertising Retailing Pricing Fulfillment Marketing 78

Wiser

MAY 26, 2021

Any retailer can tell you that putting together a perfect pricing strategy is not easy. Finding that sweet spot for your products’ prices take a lot of time, effort, and resources. How do retailers approach pricing? Pricing Manually is Hard. Checking the web for prices and trends is tedious at best.

Advertising 78

Advertising Marketing ATS 78

Retail Minded

SEPTEMBER 22, 2022

As a retailer, listing your products on online marketplace channels like Amazon will help you attract more buyers worldwide. Since you can reach more prospects, you can generate more revenue to continue running your business and producing new products. . Improves Pricing Strategies .

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Inventory Management Accounting Fulfillment Shipping 52

Wiser

AUGUST 4, 2020

Implementing a price testing strategy is like conducting an orchestra. Just like an orchestra needs every individual performer and section playing together in harmony, there are many different parts of your business that have to work in lockstep to run effective price tests. Otherwise, you just end up with noise.

Consumer 88

Consumer Marketing Accounting ATS 88

365 Retail

DECEMBER 21, 2022

Data shows that consumers are expected to spend upwards of £1,000 this holiday season, with 80% of shoppers planning to tap into Black Friday sales to achieve the best purchase price. Simple: Retailers should try automated e-commerce web data solutions. Competitive pricing . So, what’s the solution? Let’s find out… .

Shipping 67

Shipping Target Market Marketing Promotions 67

Wiser

JULY 2, 2019

The last time we talked about price elasticity, it was in the context of the dreaded price war. But it’s been a few months, so now’s as good a time as ever to dive back into the world of price elasticity. . You should be! First, let’s talk a bit more about what price elasticity is and why it matters in retail.

Advertising 94

Advertising Retailing Pricing Consumer Marketing 94

Wiser

NOVEMBER 10, 2020

Being in a position to release new products is great, but as your assortment grows, so too does the complexity of your inventory management processes. This is where SKU rationalization, a means of analyzing your SKUs to ensure you’re only carrying your most successful products, comes in. What are SKUs?

Merchant Services 99

Merchant Services Inventory Management Promotions Marketing 99

Wiser

JULY 30, 2019

Track Competitor Behavior. The first step toward a high-quality promotional strategy is to track competitor behavior. This is a critical part of the process for one national retailer, which told Wiser that its pricing team uses historical syndicated data to forecast competitors’ promotional schedules. . Why do this?

Promotions 92

Promotions Markdowns Shipping Planning 92

Wiser

NOVEMBER 21, 2018

What drives shoppers into your stores, both online and brick-and-mortar? For most, the answer will be price. The ability to compare prices, get the lowest prices, find good deals on products, and so on. The bottom line is that price is always top of mind for consumers. . One such strategy is price matching.

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Drop-Shipping Operating Expenses Consumer Point of Sale 76

Retail Focus

DECEMBER 3, 2023

If you follow what is being reported and printed in the mainstream media, it seems there is no escape from artificial intelligence, or AI if you prefer. She said why some are understandably concerned about what this might mean for jobs, AI can, if applied properly, benefit everyone.

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Advertising Shopping Promotions Checkout 148

Wiser

NOVEMBER 15, 2018

Are you ready? . One big reason why is lack of familiarity of the brand. . Therefore, you should keep it simple in the early stages. You have an exciting product, but you can’t let consumers get lost in the details of what makes it unique before they know who you are as a brand. .

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Advertising Consumer Shipping Planning 68

Small Biz Trends

OCTOBER 21, 2021

How do You Define a Niche Market? The reason why you need a niche is to help you focus on specific customers where you can really listen to what they want and need. Starting a niche business can increase your buisness’ prospects for success. Why You Should Consider a Niche Market for Your Business.

Marketing 139

Marketing Payment Services Target Market Beauty and Health 139

V Count

FEBRUARY 26, 2024

Here are some proven techniques and strategies that can help you improve your retail store’s conversion rate and return on investment. Have you ever been to a store, got your eyes on an item or product, but for one reason or another, decided not to complete the purchase? This happens way more often than you think.

Visual Merchandising 52

Visual Merchandising Target Market Management Promotions 52

V Count

FEBRUARY 26, 2024

Here are some proven techniques and strategies that can help you improve your retail store’s conversion rate and return on investment. Have you ever been to a store, got your eyes on an item or product, but for one reason or another, decided not to complete the purchase? This happens way more often than you think.

Visual Merchandising 52

Visual Merchandising Target Market Management Promotions 52

Store Growers

MAY 29, 2023

Additionally, it’s fully enabled on any Google Merchant Center account , so you don’t have to turn it on manually. All you have to do is submit the prices of all your products and let it work its magic; it’ll convert the prices into different currencies every time you post an ad or a product listing for a specific location!

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Merchant Services Shipping Accounting Finance 36

Wiser

OCTOBER 11, 2018

It’s never an easy decision to adjust your pricing strategies. However, changing a pricing strategy can be exactly what your business needs. But, you may be saying, that is easier said than done. There are two main challenges to optimizing your pricing strategies: . Complete Your Competitor Dive

Consumer 68

Consumer Marketing Promotions ATS 68

Retail TouchPoints

SEPTEMBER 30, 2020

Why is planogram compliance so critical to retail success? At worst, they may leave the store altogether and shop with a competitor. If that competitor happens to prioritize R/P alignment, it will develop a larger customer base with better loyalty, as others struggle to grow and thrive at a similar rate. Digital imaging cameras.

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Store Layout Management ATS Store Operations 164

Wiser

AUGUST 23, 2018

Why should MAP monitoring be top-of-mind for retailers? Minimum advertised price (MAP) policies are guidelines set by manufacturers for authorized retailers to only advertise certain products above the price set by the manufacturer in order to protect brand image , profit margins, and retail value.

Advertising 60

Advertising Retailing Pricing Marketing Management 60

Wiser

SEPTEMBER 18, 2018

Reputation is how everyone views your brand, shoppers, partners, and competitors alike. Reputation is how much trust is placed in your brand. It is how people feel when they buy your brand. How they feel when they see your brand on shelves and online marketplaces. . Your brand is now represented on many channels.

Advertising 74

Advertising Planning Consumer Marketing 74

Wiser

DECEMBER 13, 2018

Your average shopper over that five-day period spent more than $313 on gifts. . Therefore, we assumed that the desire to capture more sales in a hyper-competitive time period would result in more retailers breaking MAP to advertise lower prices than their competitors. . Why so many on Cyber Monday? Between Nov.

Drop-Shipping 76

Drop-Shipping Promotions Returns Shopping 76

Wiser

DECEMBER 6, 2017

Not only are they doing research on your products before they leave their house, they are checking reviews and making comparisons at the shelf. In order to outperform your rivals, you cannot leave anything up to chance. These educated shoppers will spot any inconsistencies, and that could drive them to your competitors.

Promotions 74

Promotions Management Consumer Shopping 74

Rangeme

JULY 24, 2023

In an uber-competitive market, standing out is more crucial than ever for the success of your consumer packaged goods (CPG) brand. In this first in what will be a series of blogs, we will be taking you on a step-by-step journey on how to leverage the power of strategic branding, marketing, and advertising to influence retail buyers.

Marketing 98

Marketing Advertising Promotions Consumer 98

Wiser

OCTOBER 3, 2017

Having a competitive price along with added value are the keys to outperforming your competitors. Unfortunately, perfecting a pricing strategy isn’t an easy task, and it requires continuous monitoring. Defining Competitive Price Analysis. The decisions you make with outdated data won’t have the best results.

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Markdowns Promotions Marketing Accounting 47

Retail Bound

APRIL 20, 2022

It’s an age-old question — How can your product company increase sales in an ever-changing and competitive market? For a while, you could just ride the wave created by new e-commerce platforms or the growing adoption of Amazon. At the end of this step, you should have a very clear idea of who your customers are.

Target Market 52

Target Market Marketing ATS Planning 52

Wiser

OCTOBER 16, 2017

Furthermore, in-store competitive intelligence should be used to measure how the competition looks in-store when compared to their own brands. This means that competitive monitoring is a must. Brands are hiring crowdsourcing vendors to be their eyes and ears at the shelf, as well as monitor their competitors.

Shipping 83

Shipping Inventory Management Promotions Location 83

Independent Retailer

JANUARY 5, 2023

Helen Herrick, Studio Director at MBH Architects ’ New York City office, says these are the hybrid shopping design trends that retailers should focus on in 2023: Browse Online, Try On In-Store. Online-only retailers should look into renting out a physical storefront in the new year. . Online-Only to Physical. Augmented Reality.

Payment Services 84

Payment Services Wholesale Consumer Finance 84

Retalon

FEBRUARY 15, 2024

These retail analytics insights, a crucial aspect of broader retail data insights, not only shed light on optimizing inventory and enhancing customer engagement but also carve pathways for impactful pricing strategies. Descriptive Analytics: The Rear-View Mirror Imagine you’re driving a car.

Inventory Management 41

Inventory Management Management Marketing Inventory Turnover 41

Wiser

MARCH 1, 2018

Minimum Advertised Price (MAP) agreements have become a requirement for brands selling online in the United States. They aim to keep resellers in line with price and content requirements spelled out by the brand and agreed to by the reseller. After all, they have your brand value in their hands.

Drop-Shipping 60

Drop-Shipping Shipping Promotions Advertising 60

Small Biz Trends

JUNE 29, 2023

Knowing your target market is essential for any company that wants to create an effective, compelling marketing message that resonates and results in sales. In this guide, we’ll explore what a target market is, how to define one, and why it’s so important. Let’s get started! What is Target Marketing?

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Target Market Marketing Consumer Apparel 52

Wiser

AUGUST 30, 2018

When it comes to pricing there are two very similar, yet exceedingly different, pricing policies that need to be considered. Deciding which policy is best for you and your business is a much tougher task, however. We’ve broken it down to give you a peek into the benefits and downfalls of each. MAP Pricing.

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Consumer Retailing Pricing Planning ATS 68

Wiser

OCTOBER 2, 2020

Listen in to hear from Tom Vieira, Wiser’s Director of Product, In-Store, and Casey Berns, Associate Director Shopper Insights and Category Advisory Services at The Clorox Company, as they cover six store conditions consumer brands need to monitor to win at the register. All of you can participate in the Q&A period.

Consumer 148

Consumer ATS Merchant Services Outdoor 148

Retail Bound

DECEMBER 9, 2020

The steady rise of the Bezos empire has made next-day delivery and price undercutting of the competition an everyday expectation. To truly capture the imagination of a consumer, unboxing a new purchase should feel like an event in itself. There’s little you can do about that. The rest of your customer base, though?

Merchant Services 52

Merchant Services Shipping Consumer Shopping 52