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
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
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It’s free and often contains some great retailing news, information and
ideas.
Happy Reading!
Shared by Marty Duncan, ICBA Program Manager
