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Price IQ

Tips and Tricks to Boost Your Price IQ

Episode 18: Post-pandemic Pricing Focuses

In this episode we explore the top 5 pricing priorities for retailers as the market begins to move beyond the pandemic, including online growth, demand shifts, shopper frequency, sustainability and digital acceleration.

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Episode 17: Growing Average Basket Value

Most retailers already know that pricing, assortment and promotions all play a key role in basket size. However, they often overlook perhaps the most important factor – emotion. Learn how to increase average basket value by anticipating and meeting your customers’ needs. 

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Episode 16: Pricing Strategies to Drive Shopper Frequency

As physical retail begins to recover from COVID-19, brick-and-mortar retailers need to drive consumers back into the store. The challenge then is how to grow frequency without hurting basket size, and vice versa. Here are four ways pricing can help.

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Episode 15: Understanding Promotional Price Elasticity

Promotional pricing is a complex, multi-faceted science that can be difficult to measure in full. Understanding promotional price elasticity and how to best leverage it is the first step to improving promotional effectiveness.

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Episode 14: Using Data-driven Pricing Strategies to Strengthen Sustainability

Sustainability plays an important role in retail decision making that will only increase in the years to come. While there are many ways a retailer can approach sustainability, there are a few smart pricing strategies you can leverage to strengthen sustainability by reducing waste.

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Episode 13: Start Your Pricing Off Right for 2021

In our first Price IQ episode of 2021, we cover 5 steps pricing organizations can take for a fresh start and strong foundation to pricing in the new year. Learn what every pricing team should do to plan and prepare for a successful year!

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Episode 12: Private Label Pricing Strategy Best Practices

Build a private label brand that generates major value for your organization. Learn important private label pricing best practices for base pricing, promotions and markdowns from a Revionics pricing expert and former private label buyer at Target.

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Episode 11: Using Analytics to Supercharge Your Pricing Strategy

This episode is a special excerpt from our annual pricing conference, Revionics Insight. Our Senior Advisor of Global Strategic Consulting, shares how retailers can leverage the power of data analytics as a strategic asset and a competitive advantage.

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Episode 10: Multi-channel Pricing Strategy

Building a well-thought-out multi-channel pricing strategy is crucial for retailers wanting to move towards offering an omnichannel shopping experience. Learn important considerations for creating a multi-channel pricing strategy that delivers what customers value most.

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Episode 9: React, Respond, Reimagine

In the wake of COVID-19, retailers must go through three phases to recover and move forward: React, Respond and Reimagine. In this episode, Revionics Managing Director of Global Strategic Consulting walks through the phases and what retailers need to consider and act on at each step.

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Episode 8: Leveraging a Competitive Pricing Strategy

Competition-based pricing is a natural first step for retailers looking to optimize their pricing. Our Regional Director of APAC walks through the ways competitive pricing can improve your business performance, and how to build a strong and agile competition-based pricing strategy.

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Episode 7: Making Profitable Pricing Decisions Using Price Elasticity of Demand

When calculated with precision, price elasticity is a useful driver of predictive and profitable pricing moves. Learn two scalable pricing strategies using elasticity to increase margins across product categories, store areas and more.

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Episode 6: The Role Price Optimization Plays in Pricing Waterfalls

Pricing waterfalls provide a clearer view into the costs and components affecting margins. Our Senior Product Manager walks you through the four steps to using pricing waterfalls as an important tool on your price optimization journey.

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Episode 5: Top Pricing Considerations Post-COVID

On this episode, our Director of Global Science Services takes us through the top 4 considerations every retailer must navigate as the economy opens back up in the wake of COVID-19. Here’s how Advanced Analytics can help you restructure for new consumer trends, excess stock, an effective channel strategy and more.

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Episode 4: Key Characteristics of Pricing Fluent Organizations

Pricing fluency allows companies to optimize revenue, adjust for disruptions, adapt to competitor price changes and more. Listen in as our Director of Global Strategic Consulting discusses the four key areas of focus when developing as a pricing fluent organization: strategy, people, process and technology.

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Episode 3: Perception is Reality: Establishing Price Perception in 2020

Three questions you can ask to determine what your pricing perception is, and whether or not you are making decisions based on the right perception. Revionics’s Director of Global Strategic Consulting also covers why pricing perception is important to your competitive strategy.

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Episode 2: Guide to Creating a Powerful Pricing Strategy

Explore 5 best practices for building a centralized pricing strategy to find success in today’s challenging retail environment. Take your pricing from separate tactics to an integrated strategy with insights from our Director of Global Strategic Consulting.

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Episode 1: Leveraging Product Cannibalization

We’re starting off our Price IQ series with a look at product cannibalization in the retail buyers journey. Learn what factors influence cannibalization, how to measure it, and how to use cannibalization to influence shopper behavior.

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