Author: Cindy Kim, Vice President Global Marketing
With industry heavyweights including RIS News’ Joe Skorupa, EKN Research’s Sahir Anand, Revionics’ Cheryl Sullivan and MGM Resorts’ Steve Schnur all participating, it’s no wonder we had such a great discussion going during the recent Webinar, “5 Critical Components of Advanced Pricing: How to Turn Consumer and Market Data into Actionable Insights.”
By Cindy Kim
The complexities of promotions have exploded – and retailers are stuck in the endless “death by discount” cycle that is destroying their margins. To help retailers turn underperforming promotions into profit generating promotions strategy, we recently teamed up with Susan Nichols, Publisher for Apparel Magazine, Brian Kilcourse, Managing Partner for RSR Research, and Mark Schwans, Senior Director of Solutions for Revionics, for an insightful webinar. In case you missed it, you can view it here on-demand: Retail Pricing in a Dynamic Promotional World.
Following the webinar, I had a chance to speak with Brian and he was kind enough to contribute additional thoughts on this very topic.
Contributed Blog by Brian Kilcourse, Managing Partner, RSR Research
Retailers are caught in a promotions spiral. Two recent trends triggered that spiral; the lingering effects of the Great Recession have caused consumers to put more weight on “low price” as a key component of “value” than ever, and the mass adoption of “smart” mobile technologies by consumers since 2009-10 has made it possible for them to find the best solutions to their lifestyle needs anytime and anywhere, from anybody.