Retail
Most retailers have played the Uniform Game since the 1800’s, when John Wanamaker put the first price tags on his store merchandise and pioneering merchants distributed the first mail order catalogs. But how the retailers win in the 2020s is in flux because of:
- Technological innovations: Electronic shelf labels, retail media, and personalized apps are changing the interactions with consumers. The power of AI-driven analytics, meanwhile, can lead to a step-change in performance.
- Maturity of e-commerce: The power of this channel now extends well beyond the original pillars of easy access and low prices
- Untapped data: GenAI allows retailers to tap valuable data from unstructured sources they previously couldn’t use.
Retailers can now understand purchase behavior and price interactions in-depth at the store and SKU level. Some retailers have already explored a shift to the Dynamic Game as a result.
more retail insights
Planning Retail Promotions in Volatile Markets
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In Part III of Game Changer we worked with our colleagues at BCG to show how several companies successfully switched pricing games in response to shifts in customer behavior or…
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I recently sat down with Mark Stiving, host of the Impact Pricing Podcast, where we discussed the transformative power of pricing strategies for enduring business success. Discover the significance of…
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Changing the Pricing Game in Retail Banking
In Part III of Game Changer we worked with our colleagues at BCG to show how several companies successfully switched pricing games in response to shifts in customer behavior or…
—> Read More