Retail can often seem like a game of reverse one-upmanship. One retailer cuts prices and others scramble to match or beat them. This is problematic for retailers that want to preserve their bottom lines and move inventory, but the impact …
How to Plan Margin-Protecting Promotions
Sales, discounts, markdowns, promotions—no matter what form they take, eating into your profits to get your shoppers a little better deal is a necessary part of retail today.
Why is that the case? For starters, shoppers have more tools at …
August 17, 2021
Consumer Behavior: The Data to Better Understand Your Shoppers
Can you create effective pricing strategies if you don’t know who your consumer is and how they behave? Not really.
The first step toward better understanding your consumer is to identify your buyer personas. Consumers evolve and, if you know …
July 23, 2021
In-Store Audits vs. Focus Groups: Which One to Choose?
Related:
- 8 Simple Tactics to Increase Market Basket Size
- How Consumers Compare Prices to Make Purchase Decisions
- How Buy One, Get One Can Improve Your Sales
What’s in your tool kit for capturing consumer insights? Odds are, the methods at …
July 20, 2021
The Impact of Smart Shelves On Your Pricing Strategies
It’s a bit of an understatement to say that technology has changed retail. In reality, technology has created nothing short of a revolution, from the big stuff like eCommerce to smaller, now-common trends like self-checkouts and buy online, pick up …
July 6, 2021
5 Data Points You Should Have About Your Store Presence—But Are Probably Missing
Do you know what’s going on with your brand inside every store you’re in? Alright, in fairness that’s a tough question for anyone. How about this—do you know what’s going in inside the stores that have the biggest impact on …
June 29, 2021
The Magic of Psychological Pricing
Buying is not a simple transaction. It is an emotional process in which the consumer creates a connection with a product or a brand.
We tend to relate emotions to the heart, but don’t forget that what really rules our …
June 24, 2021
How Artificial Intelligence Helps Increase Sales for Retailers
The benefits of implementing artificial intelligence in retail are countless, but it is important to know how to focus on the most appropriate solutions for your specific needs.
From the first chatbots to the most specialized solutions, the world of …
June 3, 2021
[Infographic] Channel Wars: Which is the Best Channel, According to Everyday Shoppers
The in-store shopping experience can be quite different depending on what type of store you operate—a few of the more popular channels include home improvement, grocery, mass-market, drug, and dollar. But how exactly do these experiences differ? And how do …
May 28, 2021