Building the Retail Pricing Excellence Foundation - Webinar
Retail giants like Walmart and Amazon dominate headlines as they continue to one up each other for retail dominance. Caught in the crossfire is everyone else, where retailers of all sizes struggle to stop the revenue declines and resulting market share erosion. While investing in capabilities like in-store and customer experience help solidify brand loyalty and engagement, more often than not shoppers still ultimately go to the dominant players for one key reason: price.
The good news is there is a way to sustainably structure your business to compete on price without giving away the bottom line. In part four of our Consumer and Retail webinar series, Hubert Paul, Director out of our Atlanta office, will share what a best-in-class retail pricing excellence foundation means. Building on that foundation, the webinar will then address the following topics:
- How to leverage consumer price perception to define cross-category pricing roles to achieve chainwide objectives?
- How to be more surgical in the price setting process?
- How to design pricing rules to create a differentiated pricing strategy instead of price matching across the board?
The risk of not being proactive in pricing is clear. Retail giants have made sweeping investments to ensure their price advantages are protected as much as possible by adding ecommerce capabilities that close the last mile for purchase. But retailers can fight back, survive, and thrive by only being competitive where they need to be.