Remove Location Remove Promotions Remove Retailing Pricing
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As the Holidays Approach, it’s Time to Rethink Retail Pricing Methodology…and AI Can Help

Retail TouchPoints

Add it all up and it’s clear that the timing duration, and location of holiday shopping is not like the old days. In this kind of shopping environment, how should retailers align their promotions and markdowns for the greatest impact? And don’t forget the shopper looking for that end-of-season deal.

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How Localization is Helping CVS Position Itself as the Modern General Store

Retail TouchPoints

CVS is one of the largest retailers in the U.S. by store count, with more than 9,000 locations across the country. And while a consistent experience is important for the chain, increasingly, the pharmacy retailer is working to create a store environment that caters to each local community individually.

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The Data Dilemma with Retail Pricing and How to Untangle it

Retail TouchPoints

Many of your retail peers found themselves with the dilemma of missing data — from the lack of customer data, transaction history for certain items or timeframes or sales broken out by sales type (regular/base, promotion and markdown). If not, you don’t have to collect every SKU, every day for every competitor location or web page.

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Newman’s Own to Launch ‘Pay What You Want’ Food Truck Tour on April 15

Retail TouchPoints

These brand ambassadors will travel to key locations with the food truck, sharing behind-the-scenes moments and promoting the initiative on social media. Customers paid more than the average retail price for their purchases last year, indicating that people give generously when they know their purchase is helping others.

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You Can’t Spell Retail Without AI

Retail TouchPoints

Online retailers are using AI to create intent-based promotions. Some tools ensure that products are in stock and on the shelf, while chatbots can help customers locate items on shelves or get alerts when items are back in stock. Price Optimization is for all Retailers.

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Advanced Retail Pricing Strategy: Unifying PPMO (2022)

Retalon

A good retail pricing strategy is integral – but is it enough? Setting an optimal product price can be a challenging task in today’s dynamic and data-driven retail environment. Missing the mark when setting prices can have a drastic effect on sales and the overall profitability of a retail business.

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How Halara uses machine learning to make just the right amount of activewear

Inside Retail

I started my career in production [at Ralph Lauren], so I know my [production] cost sheets fairly well and how retail pricing works, those costs were just like not possible. In addition, Hirata said the company eventually plans to open permanent bricks-and-mortar locations. How is it possible to have such a quality at US$25?”

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