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Once seen as a staple of urban retail, department stores in China are undergoing a transformative reinvention. With malls, e-commerce giants, and nicheretailers vying for consumer attention, these legacy institutions must reimagine their purpose in an increasingly digital and experience-driven retail environment.
For brands and retailers, this week presents a crucial opportunity to refine pricing strategies, capitalize on heightened consumer demand, and remain competitive in a rapidly evolving market. Beyond these giants, nicheretailers like PC Richard & Son leveraged “charm pricing” to create a perception of better deals.
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Retailers need certainty, too, but also need to respond quickly to changes in market dynamics while looking to achieve the best possible margin, tight stock management, and a good profit. Bringing AI into the mix can provide a view of the future, working with external market data to make predictions.
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