It’s time to price dynamically

Posted by Paul Milner on Jun 20, 2017 6:00:00 AM

In the era of Big Data dynamic pricing is now a reality.

However, there a couple of barriers in the way. The first is concerns about what consumers think about the practice, and, second, there’s the question of how to physically make a high number of price changes in-store – daily and even hourly. I’ll address both here.

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Topics: electronic shelf label, ESL, price change, price accuracy, reduce waste, dynamic pricing, big data

The Need For Super Agile Pricing

Posted by Paul Milner on Jul 21, 2016 11:46:52 AM

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.

RIGID PRICING
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Topics: digital price label, price change, promotional price, promotions

When it comes to setting prices, it’s Amazon vs the rest of the world… or is it?

Posted by admin on Apr 14, 2015 11:04:27 AM

Price has always been a fiercely fought battleground between retailers, but the intensity of this competition has soared in recent years. The reason for this? Amazon.  
  For retail stores in particular, Amazon’s constantly fluctuating prices are the stuff of nightmares. While changes can be made online in a matter of seconds, it can take some retailers hours, days or even weeks – to update paper price labels across their store network. With this discrepancy, how are they supposed to remain consistent with digital channels, let alone competitive?   We conducted some research recently for our Rethinking Retail report: Getting the In-Store Price Right in a Digital Age which revealed that 68% of UK shoppers and 72% of US shoppers have been deterred from purchasing an item in a store because they believed the price to be too high.  

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Topics: amazon, electronic shelf label, in-store, retail, shelf edge, Blog, digital channel, digital price label, price change