Grocery stores today are under intense price pressure as a result of supply chain challenges, competition and rising costs. Knowing how to increase share of wallet among current customers and attract new customers has become critical to the survival of struggling grocery stores. A critical component of this process is
Due to the nature of demand and competitiveness, the consumer electronics vertical in retail is one of the most challenging for retailers looking to build a sustainable and growing business.
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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
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.
When your world is pricing, you understand the importance of pricing optimization. Watch here for a peak into what we do at Quicklizard, and how we can help.
For retailers looking to introduce dynamic pricing, an AI-based pricing engine is invaluable. The system analyzes price changes and can be responsive in real-time to marketplace changes.
Discover how our pricing optimization software channels the power of effective pricing – with AI and machine learning – to add value to your pricing strategy.
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Tariffs Are Paused. Use This Window to Build a Smarter Pricing Response. Learn How
