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Under any circumstances, the holiday season is a do-or-die time for retailers across virtually every segment. In 2021, the stakes are even higher — as the Delta variant sent shoppers into retrench mode yet again, retail and food services sales fell an estimated 1.1% Census Bureau, August 17, 2021. [ii]
But the grinding pressures of a lengthy global pandemic – shoppers avoiding in-store shopping where possible, lockdowns in non-critical retail verticals, parents juggling remote work and homebound kids – precipitated a rapid shift. Deliver channel-specific prices and offers that meet shopper expectations but preserve overall margins. .
These ten leading pricing strategies for new products can get you started. And with the help of retailpricing software , you can find the optimal strategy for your business.). Why is new product pricing so challenging? The pricing strategy you choose for a new product has enduring ramifications.
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