Paul Milner, Marketing Director, Displaydata
One of the advantages that online retailers have over bricks and mortar stores is
the ability to change prices quickly: one well-known online brand amends its pricing 2.5 million times a day.
In the store, retailers need to prioritise pricing as they only have a finite resource – in the
shape of their staff – to make changes. So, for example, with grocery retailers, the daily markdown of perishable goods is not only essential, it also reduces the scope to launch promotions in other areas of the store. There are more reasons, too, why a manual approach to pricing could impct the competitiveness of physical stores.