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Integrate Pricing, Promotions and Markdowns to Drive Profitability

Retail TouchPoints

But at the same time merchants’ margins are being squeezed, making intelligent pricing and promotions strategies even more critical for success. For example, the base price for organic produce will likely be very different in New York City than in Florida because overall cost of living is significantly different in these areas.

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As the Holidays Approach, it’s Time to Rethink Retail Pricing Methodology…and AI Can Help

Retail TouchPoints

In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? AI-powered solutions provide a modern alternative — leveraging data science to successfully break away from a status quo built around yesterday’s mindset and tools. And retailers are turning to AI to help.

Retail 270
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DemandTec Launches Platform to Help Retailers Enable AI-Powered Merchandising

Retail TouchPoints

Price and promotion optimization solution provider DemandTec has launched Unify by DemandTec, an autonomous unified merchandising platform for retailers. Retailers also can utilize direct integration with DemandTec’s Autonomous Collaboration trade network, which features more than 700 brands, suppliers and brokers.

Retail 249
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How the Store of the Future will Track Shopper Behavior Ecommerce-Style

Retail TouchPoints

Rema 1000 x Revionics Photo courtesy Rema 1000 Norwegian discount grocer Rema 1000 faces intense competition to keep its prices low. But we do,” said Partap Sandhu, Head of Pricing at Rema 1000 during a session at NRF. You’re probably thinking: Norway? Almost no population, freezing cold, how can they have competition?

eCommerce 264
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Building vs. Buying a Pricing Engine for Your E-Commerce Business

Fabric

Software engineers working in e-commerce are frequently faced with the decision of building or buying a pricing engine. While developing a pricing engine in-house may appear to be the ideal option, it frequently necessitates a significant investment of resources. What is a Pricing Engine?

eCommerce 236
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Top 4 Strategies for AI-Powered Profitability

Retail TouchPoints

This sharp increase is attributed to surging demand for AI-powered retail solutions as the industry continues to undergo digital transformation. As AI adoption in retail soars, it’s critical to understand how to leverage it effectively and what benefits you can reap if AI-powered solutions are implemented strategically. Operations.

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Strengthening Customer Loyalty in Today’s Market

Retail TouchPoints

For example, Target and Kroger offer store savings, coupons and store credit, while Walgreens and Publix have personalized price reductions on birthdays. For example, promotions catered specifically to the individual shopper give them the deals they want on the products they need. Even with in-store promotions, timing is everything.