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Author: Ruth Hamer, Marketing Director

Monitoring Holiday Pricing Trends

The jury is out as to whether this holiday retail season will be boom or bust. It is difficult to accurately assess consumer mood and guess how wide the purse strings will be opened. Retailers and e-tailers will be competing fiercely for consumer dollars and pricing will be more dynamic than ever before.

Author: Alison Raffalovich, Senior Corporate Communications Director, Revionics

We have a little saying around here: the world doesn’t want to hear from us, it wants to hear from our customers.  RIS News truly understands this that in spades, and that’s why their annual leaderboard relies on retailer surveys to determine industry leaders among software vendors in the retail sector.  But best to let RIS News Editor Joe Skorupa describe it in his own words:  “The RIS Software LeaderBoard measures the wisdom of the crowd to cut through the noise of marketing messages, buzz and hype. It aggregates 747 evaluations made by 332 retailers about 50 retail technology vendors. We believe this offers an excellent way to get insight into your next tech purchase.

Author: Ruth Hamer, Marketing Director

Monitoring Holiday Pricing Trends

Marketyze and Revionics recently published the first part of their 2015 Holiday Pricing Trends Report, analyzing competitive pricing data gathered from October 27 through December 5. The report looks at various aspects of the price positioning and behavior of four leading retailers: Walmart, Sears, Toys R Us and Best Buy, as well as four leading eTailers: amazon.com, ebay.com, jet.com and rakuten.com.

Author: Marc H. Hafner, Chairman & CEO, Revionics, Inc.

Online retail is the new frontier and customer-centric pricing for retailers has taken on a whole new meaning with the growth of ecommerce. According to the Centre for Retail Research, rapid ecommerce growth continues to accelerate with 2015/2014 year-over-year growth in the US at 13.8%, 15.2% in the U.K. and 11.6% in Germany. 

This boom also brings with it challenges for retailers. Planning and executing in silos is a thing of the past. The walls that have defined traditional retailing are coming down – and retailers have to truly merge the online and physical channels to deliver a seamless experience for the customer.

Part 3: 15 Observations from Black Friday

Monday, 30 November 2015 00:00

Author: Will Fuentes, Retail Expert

This list is a bit of a misnomer as we were out at the stores on Thanksgiving as well as Black Friday! Without further ado:

Author: Dave Thompson, Chief Technology Officer at Revionics

Last week I had the pleasure of visiting with one of our specialty retailer customers.  During one of the sessions, we were warming up a review session with their CMO by exchanging thoughts on current trends in retail.  We got into a fascinating conversation about private brands and started sharing views and (publicly available) information on how we each saw the positioning of private and national brands around different retailers in different verticals.

Author: Will Fuentes, Retail Expert

Even with traffic down, Black Friday still affords an opportunity to win new customers and increase the loyalty of old ones.  I spent the first 8 years of my career in retail seeing this first hand.  I also witnessed employees making great suggestions on how to improve the Black Friday experience for both them and customers.

What was interesting is that many of the suggestions were simple and easy to execute.  However, they delivered immeasurable impact to the spirit of the store.

Part 1: "Party on, Excellent" --Wayne & Garth

Thursday, 05 November 2015 00:00

Author: Will Fuentes, Retail Expert

With all the bad Black Friday press the title of this blog may seem confusing.  It is true that in the last few years retailers have reported a drop in Black Friday traffic and surveys recently conducted indicate that this year will be no different.  Shoppers have felt overwhelmed by the constant sales, new events (Cyber Monday, Pre-Thanksgiving, etc.), and the opening of stores on Thanksgiving.  This has led to Black Friday becoming less and less relevant. However, the party is not over.  

BY MARC HAFNER, CEO AND CHAIRMAN OF THE BOARD, REVIONICS

Today’s technology-empowered shoppers have unprecedented control, unfettered access and unlimited options. With mobile at their fingertips, they have access to an infinite universe of shopping options. They’re shopping seamlessly, without borders, looking for the best offer. In control, they are driving the change cycle and dictating the speed of retailing today. It’s both a risk and an opportunity as their loyalty is renewed, or revoked, with each interaction. 

Source: Planet Retail, Miya Knights

Implications

  • The main message around discounting from retailers was a warning to abandon cynical discounting. The success of luxury brands versus negative sentiment around additional discount events, such as Black Friday or Amazon Prime Day, for example, calls for retailers to develop more sophisticated pricing and promotional strategies that can capitalise on customer and Big Data analysis.
  • Increased focus on making the most of customer data should be directed towards employing discounting in a more personalised way. The Waitrose top ten discounts of choice is a recent interesting example of this approach. On a practical level, real-time intelligence on customers, sales and inventory can promote more intelligent buying to maximise margins and minimise markdowns.
  • Apply customer data analysis alongside pricing optimisation tools to improve the markdown process itself and reduce margin erosion. Aligning category and range reviews with KVI analysis can speed up and support more effective merchandising and marketing processes, for better execution on optimal pricing and discounting strategies for both the business and brand.