First and foremost, a competitive pricing strategy that reflects the business strategy is one of the most important keys to success. Properly designed, this can be one of your most profitable investments. A winning pricing strategy takes the whole product assortment into consideration, with product prices based on customer value and customers’ willingness to pay. When implemented correctly, an improved pricing strategy provides 3-5% in profit improvement annually.
So how do you price large assortments that are based on customer value? And how do you create business results when an increasing portion of trade takes place online compared to in stores? How do you create efficiency and reduce administration while increasing sales and profitability?