Wednesday, December 12, 2012

Why Pricing is the Hottest Topic in Retail - Insight from NRF SmartBrief

As most retailers know, three factors will determine success or failure: is it the right product, is it the right time, and is it the right price? The following article was in the December 12th edition of the National Retail Federation SmartBrief:

Why pricing is the hottest topic in retail

Pricing has become a hot topic in the retail world, as merchants seek to strike the right balance between price and value, writes First Insight founder Greg Petro. He explores the pros and cons of several different pricing models, from Apple's "take it or leave it" model to Costco's volume-based approach. Forbes (12/11)

As we know, pricing on textbooks is not like it was 5-10 years ago. Stores are having to be more flexible and competitive to maintain their market share. And as for general merchandise, are you simply keystoning prices, or as the article states, looking at “full consumer value?” Take a moment to read this article to see if you may be leaving money on the table based on your current pricing strategy. This is the first of a three-part series and we will share future posts with you, too.

If you would like to receive a daily NRF SmartBrief newsletter, you can sign up at  It’s free and often contains some great retailing news, information and ideas.

Happy Reading!

Shared by Marty Duncan, ICBA Program Manager