THE RACE FOR RELEVANCE: How Retailers Can Lead in an Age of Disruption
While consumers are bombarded with information and the industry landscape is in upheaval, retailers are caught in what seems like an ever-accelerating race for relevance as they struggle to keep their brand fresh, their customers engaged and their revenues, margins and profits healthy. This e-book guides retail executives through the challenges and strategies that structure you for success in the only race that matters for your business.
Rethinking Retail Pricing: 5 Things for Retail CEOs to Consider
The pressure on retail CEOs to deliver results is at an all-time high. Visionary CEOs understand that by shifting their price strategy from “gut feel” pricing to intelligent, data-driven price optimization can yield 10x yearly ROI, 2-7% in increased sales and 2-5% in gross margin gains. Find out how to plug the leaky buckets that drain your profits.
FIT FOR FASHION: Discounting in Style
Keeping up with today’s shoppers is driving retailers into a tailspin. The threat of missing sales and carrying excess inventory causes many retailers to run multiple discounts on a daily basis – 30% to 40% off with an additional 20% for no rhyme or reason. It’s an addiction. Put an end to margin-eroding discounts. Download this ebook to learn how you can achieve inventory sell-through boosts, sales units/volume increases, and profitable growth.
Learn to Speak Customer: 5 Must-Haves for Profitable Promotions
Are you running endless promotions at deep discounts that are killing your margins? On average, 71% of retail promotions fail to break even. While promotions remain one of the best ways to connect with customers, retailers still struggle to execute the right offers and deliver them through the right channels.
Learn to speak customer. Download this eBook and discover how to deliver PROFITABLE promotions today.
The Five Tenets of Dynamic Pricing eBook: Don’t Just Cut Prices, Craft Them
Online innovators such as Amazon and new market entrants such as Jet.com continue to shake up the retail landscape by presenting consumers with a myriad of products across categories and offering highly competitive prices. This eBook will spotlight how retailers can turn pricing disruptions into opportunities with dynamic pricing that’s intelligent and scalable by leveraging five key tenets to respond at speed and scale with predictable outcomes.
2016 Pricing Regroup: To Hike Or Not To Hike
Competitive intelligence and price optimization are a must have in today’s retail arsenal. However, when it comes to implementing recommendations provided by price optimization tools, many retailers are still skittish. They fear that even a small price hike will send customers scurrying to their competitors. Don’t let your fears get in the way of pricing right. The solution lies in dynamic pricing. Download this special report to learn how you can better understand your customers and price accordingly.
The retail promotional landscape is undergoing significant and rapid changes. Today’s technology-enabled consumers demand more targeted, personalized promotions. Learn how you can turn underperforming promotions into profitable offers using the right technology.
Next Generation Price Optimization
Price optimization systems have been available to retailers since the early 2000s. Early adopters used first-generation systems to analyze ever-growing volumes of sales data and bring science to the art of retail pricing. But now, next generation price optimization solutions are revolutionizing retail operations management. Derived from advanced mathematics, statistics, and econometrics, these easyto- use, new-era solutions are bringing the promises of the first-generation price optimization systems to fruition.
The Pricing Evolution: The Perfect Storm Compelling Retailers to Shift from Rules-Based to Optimized Pricing
The siren's song of rules-based pricing solutions is tempting, however business rules are only one, albeit one very important, component of a comprehensive optimized pricing strategy that enables retailers to compete in today’s complex retail environment. This paper explores the evolution of pricing that has made optimization table-stakes and has required retailers to supplement business rules with data, science, analytics and strategy in order to survive and thrive.
Escape the Promotional Vortex: Create More Profitable Promotions
It should come as no surprise to even the most casual observer of retail trends that promotional activity has increased substantially over the past few years. Discover how the frenzy of promotions may be driving retailers into a downward spiral, and how to escape the vortex of increasing promotions and decreasing sales and margins.
Strategic Competitive Positioning: Balancing the Shopper & Shareholder Value Equation
Dynamic pricing is here to stay, as is volatility in shopper and competitor behavior. These shifts can be viewed as a threat – or as an opportunity. Retailers who embrace optimization can systematically achieve price image and profitability objectives.
Social Commerce: The Gateway to Success in an Omnichannel Market
This is a disruptive era in retailing and we are now competing in an omnichannel market, selling to informed and empowered shoppers. Discover how to capitalize on the convergence of social media and omnichannel retailing.
Maximizing Inventory Productivity with Localized Markdowns
Abstract for Maximizing Inventory Productivity with Localized Markdowns:
Markdowns are no longer the exclusive realm of fashion. Today, retailers of all stripes must think about the role markdown plays across all kinds of product categories, from short lifecycle to long.
These combined challenges of shifting consumer demands, continued consumer price sensitivity, and omni-channel pressures to provide more localized inventory have created an environment where unproductive inventory is now a more painful issue than out-of-stocks. Learn how these factors are driving retailers to consider localized markdowns as part of their overall pricing strategy across a broader range of merchandise categories.
Download Two White Papers:
Maximizing Return on Store Space with Optimization
Three Trends Changing the FMCG Ecosystem
Abstract for Maximizing Return on Store Space with Optimization:
This paper analyzes how science based integrated space and assortment optimization addresses the strategic transformation of retail store space in response to changing market conditions. Case studies show how optimization science is used to get more performance from current or reduced store space.
Abstract for Three Trends Changing the FMCG Ecosystem
- This paper addresses three trends that are permanently changing the FMCG competitive ecosystem affecting all industry participants including retailers, manufacturers and solution providers: Growing Power of the Retailer, The Digitally Empowered Shopper and The Big Data Big Bang.
For additional insight, we would like to offer you these valuable materials:
Click here to view the PDF deck from the Webinar around this topic.
Click here to view a Q&A document, which was developed from questions attendees had after the webinar on this topic.
Connecting with the Omni-channel Shopper:
Building Digital Bridges & Social Amplification
The social commerce sphere has evolved and now delivers measurable results. Revionics® Social Commerce (RSC) accomplishes this because it bridges the gap between online, in-store, social and mobile. RSC is focused on engaging with customers at an important touchpoint in their purchase path while driving measurable ROI.
Price Optimisation: New tools facilitate pricing in an omni-channel world
(Provided by Planet Retail)
Price optimisation tools have become retail’s first line of defense in an increasingly competitive market serving cost-conscious consumers. Retailers are harnessing point of sale (POS) and loyalty data together with the latest science-based analytics to gain insight into consumer buying habits. Combined with competitive intelligence, this information feeds science-driven price optimisation software to implement the best pricing strategy based on channel, location and even demographics.
Drive Purchases and Win Customers with Strategic Social Commerce
Your social commerce activities compete for the attention and dollars of Five-I customers, those who are instrumented with smartphones and tablets, interconnected across social networks, informed by Web content, in-place anywhere to act, and immediate in their ability to act as they choose. Revionics Social Commerce capitalizes on social media by engaging shoppers at a preferred touchpoint while delivering measurable results.
Pricing in a Multichannel World: The new role of key value items
Pricing is — and always has been — a key value lever for retailers. In the new multichannel retailing environment, retailers are finding that their traditional approach needs an overhaul.
This article centers on KVIs and the relevance and evolution of the concept in a multichannel environment. We explore three topics: the best-practice traditional approach to KVIs, how multichannel dynamics could change the game, and the key implications for a multichannel KVI approach.
RSR Benchmark Report:
Optimizing Assortments to Reinvigorate Retail
Localized assortments driven by customer and store attributes are necessary to support the best possible sales while controlling inventory and costs.
In this fifth annual Merchandising Benchmark Report, we set out to see what progress has been made in changing merchandising processes within retail companies both large and small.
Retail Strategies to Offset Drought Impact
(and Other Economic Shocks)
The convergence of drought, heat and economic conditions are contributing to an event of historic proportions. To respond and prepare for the long-term effects, U.S. retailers must be strategic with price, promotion, space allocation and assortment strategies and tactics in order to maximize return on investment, respond to the inflationary impact and address the subsequent changes to consumer demand patterns.
Here are some practical ways to utilize optimization, predictive analytics and advanced data mining technologies and strategies to rapidly respond to changing shopper and competitor behaviors and navigate these unprecedented challenges with confidence.
Markdown Optimization: Worth More than Its Price
Like other price optimization applications for regular and promotional pricing, Markdown optimization MDO has proven ROI. CEOs and CFOs of public companies commonly mention MDO in quarterly earnings calls, and they have been doing it for years. Many retailers in the market to buy MDO applications tend to shun drawn-out proof-of-concept efforts lest they leave money on the table. These systems can pay for themselves within a 13-week season, sometimes quicker.
Optimizing Prices in an Omni-Channel, Price-Transparent World
Consumers’ non-linear shopping patterns combined with increased price transparency have dramatically increased pricing pressures on retailers. In addition stalled economic recovery has increased the pool of bargain-hunters, making it more difficult for retailers to improve their margins by raising prices without harming customer loyalty. Learn how price optimization can help retailers address these challenges head-on.
Pricing in Inflationary Times
Never before have today’s retailers encountered the confluence of so many difficult market conditions. It all adds up to a difficult-to-crack puzzle for retailers seeking pricing strategies that will keep consumers buying yet preserve margin. This white paper will provide ways in which retailers can optimize their pricing strategies to remain strong in these challenging economic times.
Price Optimization for Retailers
Recent advances in the science and heuristics that drive price optimization are delivering significant benefit to sellers of fast-moving retail goods. This paper examines the emergence of price optimization, explores its relationship to retail goods, suggests best- practices, and highlights the challenges organizations typically face during adoption of a price optimization program.
Retail Pricing Strategy Insights & Opportunities
Pricing strategy plays a critical role for retailers of all sizes. As advances in science and technology allow retailers to integrate real-time consumer demand data, competitive activity, along with pricing rules, creating and implementing a sophisticated price strategy is emerging as a powerful opportunity for retailers to increase revenue and profit.
Impact of Seasonality on Life Cycle Pricing
Seasonality can have a dramatic impact on how, when, and what products are purchased throughout the year, making it an integral part of retail pricing strategy. This white paper discusses the role of seasonality as it relates to demand, and how retailers can use price optimization software to translate seasonal buying patterns into measurable, predictable, and profitable pricing strategies.
Science Propels New Era of Pricing
Most retailers know that technology plays a critical role in setting retail prices. Until recently, these efforts did not include newfound applications of scientific principles. This paper explains why retailers can no longer thrive without a science-based pricing system, defines and illustrates the right science-based approach, and calls out the key features and functionalities of leading science-based price optimization systems.
Price Elasticity and Its Applications
Elasticity is the key to understanding how pricing and pricing decisions will influence retail customers. This white paper introduces the concept of price elasticity, cause and effect of variations, and examines practical uses of elasticity calculations for retailers that lead to improved sales, profitability, and customer satisfaction.
Selecting a Price Optimization Solution
While the view that price optimization is a critical component of the retailer’s go-forward strategy has been widely supported by industry analysts, less has been written about the relevant considerations in selecting a price optimization solution. The focus of this white paper is to provide guidance to the retail executive who is evaluating price optimization solutions.
Software as a Service: A Better Approach for Retailers
For retailers of fast-moving consumer goods, price optimization software has become a must-have tool. As the pace of development and complexity of modern price optimization systems continues to evolve at unprecedented speeds, more retailers are discovering the value of Software-as-a-Service (SaaS). This white paper discusses the top-10 benefits of SaaS for price optimization software.
Grid Computing in the SaaS Environment
Retail planning applications such as pricing, promotions, and markdown require weekly, daily, and on-demand processing to leverage the most up-to-date data and enable retailers to optimize profit and revenue. SaaS Grid Computing shares resources among many retailers and provides much more efficient use of hardware. This paper discusses how grid computing surpasses on-premise applications in meeting retailers’ planning and data processing needs.