If you can distill retail down to a single principle, it’s “supply versus demand.” And pricing is a key way to influence this demand and, most of all, consumer perception of your brand.
But now more than ever, there are so many factors that are disrupting retailers’ pricing strategies, including new competitors, new channels and new economic issues, such as inflation. How can brands and retailers effectively balance them all and still make the best decisions for their business — and their customers? Matthew Pavich of Revionics breaks down how to navigate this increasingly important space by sharing:
- How data and analytics can help brands manage consumer expectations and better respond to competitor pricing strategies;
- What role omnichannel services and fulfillment strategies play in pricing strategies; and
- The impact of inflation and supply chain constraints, especially leading into the holiday season.