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

Retail TouchPoints

AI-powered data solutions specifically related to pricing optimization, inventory management and advanced demand forecasting for major retailers. Barach guides development and customer deployment of antuit.ai

Markdowns 278
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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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Loblaws Pilots 3 Limited-Assortment ‘No Name’ Stores, Promises Significant Discounts

Retail TouchPoints

Our commitment to customers is that products at the no name store will be up to 20% less than the regular retail price on a comparable product at any of the four main discount grocers in that local area,” said Melanie Singh, President of Loblaw’s Hard Discount Division in a statement.

Grocer 272
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Ollie’s Elevates Loyalty Strategy with its Branded Credit Card

Retail TouchPoints

Across its 546 stores in the U.S., Ollies offers close-out merchandise from the worlds most reputable brands at 70% off retail price. That means providing customers with a treasure-hunt experience that gives them access to some of the best products from the best brands.

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Exclusive Q&A: EY Defines 5 Post-Pandemic Consumer Segments

Retail TouchPoints

They’re looking for the best deal and are probably going to use the web to do price shopping. That means retailers have to be transparent with their pricing, but they can go further. That would be a service price-sensitive consumers couldn’t get anywhere else.

Consumer 279
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Digital Is Turning Retail Into An On-Demand Model

Retail TouchPoints

For example, sustainable ‘rental fashion’ is one phenomenon taking over the industry as Millennial and Gen Z consumers, who value access over ownership, buy into the concept of hiring clothing at a fraction of the retail price.

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How Korea’s big 3 department stores are killing it right now

Inside Retail

As evidence for the potential of prices to rise further, the Producer Price Index for apparel (a proxy for wholesale prices) was up 7.3 per cent in March, an indication that retail prices may follow soon.