Ebook
What is Price Elasticity & How Does it Impact Retail?
Understanding the Importance of Price Elasticity in Retail
Anat Oransky Lev, VP Marketing
Understanding the Importance of Price Elasticity in Retail
Discover how to select the right pricing software to optimize your retail strategies, enhance profitability, and stay competitive in the market.
The holiday season is a great time to boost your sales, but it also presents a unique challenge: how do you price your products differently when the demand for them is so high?
Price too high, and you miss sales and revenue. Price too low and your margins erode.
Quicklizard has been listed in Gartner’s July 2022 “Market Guide for Retail Unified Price, Promotion, and Markdown Optimization applications” as a representative vendor for both Short and long lifecycle products retailers.
Omnichannel allocation is the distribution of one inventory set across multiple channels with a limited sell through timeframe. The goal of omnichannel allocation is to maximize inventory yield across the different channels.
Explore our pricing optimization software further: how we can add value to your business, areas we operate, a look into our valued clients, and more.
Dynamic pricing has become an industry standard. But what does this truly mean? What should you be getting out of dynamic pricing? How can you ensure that you are not just price matching? Or working based on hunches? How can pricing managers use science to set the right pricing strategy to meet business goals?
Cross elasticity of demand is the impact that a price increase or decrease on one product has on other products. Products can be substitutes, complements, or unrelated entirely.
The ability to forecast demand accurately is a fundamental part of retailers’ success. Demand forecasting apportions product demand through time at the aggregate as well as SKU levels.
Product classification, also known as article segmentation, is at the core of a successful pricing strategy. While the categorization of products is important, the real success lies in embracing the method. It all starts with the customer.
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