The holiday season is a great time to boost your sales, but it also presents a unique challenge: how do you price your products differently when the demand for them is so high?
Price too high, and you miss sales and revenue. Price too low and your margins erode.
Quicklizard has been listed in Gartner’s July 2022 “Market Guide for Retail Unified Price, Promotion, and Markdown Optimization applications” as a representative vendor for both Short and long lifecycle products retailers.
DIY Retailers face fierce competition for sales and intense pressure to improve margins. While traditionally DIY retailers sell paints and tools, today they also compete in other categories selling anything from household goods to various types of electrical appliances.
The business model usually entails a sizable warehouse that fulfills online orders alongside brick and mortar stores that act as stores and as a means to shorten the last mile to the consumer.
Grocery stores today are under intense price pressure as a result of supply chain challenges, competition and rising costs. Knowing how to increase share of wallet among current customers and attract new customers has become critical to the survival of struggling grocery stores. A critical component of this process is instilling a favorable price-value image in the minds of consumers.
Due to the nature of demand and competitiveness, the consumer electronics vertical in retail is one of the most challenging for retailers looking to build a sustainable and growing business.
Dynamic pricing has become an industry standard. But what does this truly mean? What should you be getting out of dynamic pricing? How can you ensure that you are not just price matching? Or working based on hunches? How can pricing managers use science to set the right pricing strategy to meet business goals?
Retail is the primary user of pricing optimization since price is one of the primary brokers of every purchase
The Covid-19 pandemic has overwhelmingly impacted the retail industry across the globe. Social distancing measures and anxiety over the viral transmission of the disease have led to the enforcement of high street store closures and an accelerated shift to digital across the end-to-end customer journey.
For retailers operating in a B2C world, there are literally hundreds and thousands of different factors that can help determine the optimal pricing strategy. Artificial intelligence and machine learning deliver the ability to harness the real-time visibility your organization needs to set the right price on every SKU, in every market, across your omnichannel sales ecosystem.
Expectations for Early Holiday Shopping Season Clash with Pipeline Challenges
