Ever since the world’s second merchant set up shop to compete with the first, pricing has bedeviled retailers. The Internet has compounded the complexity by providing consumers nearly complete transparency across retailers, regions, and even national borders, as well as access to any “store” anywhere, anytime. Successive technological innovations, such as the smartphone and tablet, automated price-comparison capabilities, and price-change alerts that track dynamic pricing movements, have strengthened the ability of every consumer to shop like a bargain hunter all the time—without having to expend much additional time or effort in the process. The technology—and its impact on retail—continues to evolve. No one knows for sure what the retail industry will look like in five or ten years, but it is quickly becoming clear that those retailers that do not take steps now to embrace an omnichannel future will soon find themselves severely disadvantaged.
Winning at Omnichannel Pricing: Maximizing Growth While Protecting Margins
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