The Expert Guide to Retail Pricing : An Analytics-Based Approach to Maximise Margins

Going under the hood of retail strategy, this book provides in-depth coverage of how retailers can leverage the latest in data analytics and technology to improve profitability and customer value through pricing. Retail pricing is not about dollars, pounds or euros, but the value a customer associates with a product, which can and does change over time. To maximize revenues and profits, pricing must be dynamic, strategic, and in today’s hyper-connected and -competitive world, scientific. Using technology to gather customer insights and create data-driven pricing approaches can also enhance the customer experience, improve vendor management, help monitor competitors, and ensure market efficiency – including the much-needed reduction of waste in the food sector. This book uses case studies from around the globe to illustrate the evolution of retailing and offers takeaways with each chapter to enable retailers to manage the future of pricing. Retail and pricing managers, retail sector consultants, and students of sales and marketing will welcome this book’s innovative solutions to one of bricks-and-mortar retailing’s most critical challenges.