Live webinar on Improve Market Reactivity with Dynamic Pricing endorsed by EPP

In this 30-minute webinar featuring a live demo, Jan-Willem Adrian will run through a daily operational pricing process in a retail company selling online and in stores.

Willem will demonstrate how pricing analysts and category managers can maketimely and optimal pricing decisions, overcoming the limitations of Excel ‘spreadmarts’ and black-box pricing applications.

You’ll learn:

• How to accelerate pricing decisions and deploy new prices several times per week
• How to improve the performance of your pricing rules, whilst ensuring consistency across channels and regions
• How to generate smart recommendations based on inventory levels, competitors prices, web traffic and more variables
• How to run “what-if“ simulations to evaluate the impact of multiple price adjustment scenarios on margins

1. Live webinar on Tuesday, May 19, 2015 3:00 PM - 3:30 PM CEST
2. During the live 30-minute webinar, you will learn how retail companies can make timely and optimal 
3. pricing decisions that improve market reactivity, generate margins and optimize stocks,
4. overcoming the limitations of Excel spreadmarts and black-box pricing applications.
5. Interested to attend? Please click here.

Top 5 Pricing Trends for the Holiday Season

With the holiday season upon us, many retailers are wondering what pricing strategies they should implement to price for profit and growth.

This year, more than ever, the U.S. is a “have” and “have not” economy. On the negative side, consumer sentiment remains low and the unemployment rate continues to sit at 9.6%. However, there is positive news: Personal expenditures were up by 2.6% in the third quarter, the Dow Jones Index is over 11000, corporate profits are on the upswing and unemployment has stabilized (albeit at an unacceptably high level).

Bottom Line: A new opportunity exists this holiday season to serve cautiously confident consumers who, due to pent up demand and an interest in treating themselves, are willing to open their wallets.

Trend 1: Tailor your pricing strategy to your customer:

•In economically-depressed areas, continue the status quo pricing strategy of recent holiday seasons: focus on staple products, offer financing and layaway plans.

•In cautiously-confident markets, there is an opportunity to sell higher margin luxury products and services.

Trend 2: Show customers why they should purchase your product:

•In previous holiday seasons, price was the key driver of sales. This holiday season, cautiously-confident customers are willing to pay a premium for unique features (for instance, ads for Apple’s MacBook Air highlight its thinness).

Trend 3: Feature upscale “reach” products to cautiously-confident consumers:

•While the basic version of an upscale product may be discounted to attract consumers, reap higher profits by offering upgrades as well as complementary products.

Trend 4: Welcome cautiously-confident consumers back with new pricing plans:

•Offer generous financing and layaway plans.

•Minimize risk with “satisfaction guaranteed” pledges.

•Offer lower cost options such as “basic” versions, rentals, and leases.

Trend 5: Offer experiences to cautiously-confident consumers

•After years of pinching pennies, consumers are willing to splurge on fun experiences.

Source: Rafi Mohammed, FOXBusiness