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Retail Insight

In the pricing world, dynamic pricing is a trendy topic right now, and digitalisation provides many great opportunities for increased pricing responsiveness. Get to know the dynamic pricing dos and embrace the undeniable potential of this solution. In which cases you can go dynamic?   Do be dynamic when the inventory is perishable and capacity constraint is clear. The airline industry is a perfect example here – a fixed number of seats is available on flight and a willingness...

Customers continue to value the physical shopping experience. Forbes recently reported that in the US, online still hasn’t conquered physical grocery stores. However, retailers still face fierce competition from their rivals on the high street as well as online. So how can they ensure their physical store maintains its allure despite all the competition?   Erosion of trust A major area of focus for stores is ensuring that pricing is accurate to build and maintain customer trust. We have all...

By developing a solid understanding of why and how a retail shrinkage happens, you can devise a pragmatic and effective loss prevention strategy for your stores. If you are looking to run a successful business, keeping track of shrinkage is crucial. Even if you are not in an industry with a relatively low profit margin like grocery stores, it doesn’t take much shrinkage to significantly cut into your profitability and potentially threaten the health of your...

Accurate inventory management is the key to reducing administrative errors that would otherwise contribute to a higher rate of retail shrinkage and greater profit loss. If retailers are not currently in control of their inventory – how it’s merchandised, priced and promoted, including transactions and how the employees are involved – it’s impossible to pinpoint when, why, and how a loss occurred. The NRF reported administrative and paperwork errors make up approximately 20 per cent of shrinkage....