News from the Wire

RSR benchmarks retailer pricing strategies

Friday, July 01, 2016 — 11:05:22 (EDT)

Miami, June 30, 2016 -- According to RSR’s latest benchmark on retailers’ pricing strategies, a modern price strategy (as defined by Retail Winners — better performing retailers) needs to be able to respond quickly to competitors’ prices, work well across channels, and be granular in execution. And these are all things that lagging retailers say they have not achieved.

Do these Winning retailers have the internal alignment to back up this confidence? Yes and no. According to our research, Winning retailers have mastered the worst of over-promotional strategies — they execute more promotions, start earlier, and take bigger mass discounts. And in 2015 even they have paid the price for these actions.

However, when looking ahead, it appears that Winning retailers may be justified in their confidence after all, because they have done more to make it easier to adapt their strategies in the future.

Pricing 2016: Life Becomes Unmanageable contains analysis of the business drivers, opportunities, and organizational constraints surrounding retailers’ pricing strategies. It also offers baseline recommendations for navigating this brave new world for retailers.

The report is part of RSR Research's ongoing efforts to provide market intelligence on retail technology trends, is sponsored by Precima, supported by dunnhumby and Upstream Commerce, and can be downloaded here: www.rsrresearch.com/research/pricing-2016-life-becomes-unmanageable .

Authors

Nikki Baird 303-683-6613 nbaird@rsrresearch.com .

Paula Rosenblum 305-757-1357 prosenblum@rsrresearch.com .

About Retail Systems Research:

Retail Systems Research (RSR) is the only research company run by retailers for the retail industry. RSR provides insight into business and technology challenges facing the extended retail industry, and thought leadership and advice on navigating these challenges for specific companies and the industry at large.

RSR’s services include benchmark reports covering the state of retailer technology adoption for topics ranging from merchandising and supply chain, store operations and workforce management, to customer-facing and multi-channel technologies. Custom research reports provide more in-depth views into topics of industry interest, and advisory services help retailers and technology vendors make the most of the insights RSR provides.

To learn more about RSR, visit www.rsrresearch.com .

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Source: Company press release.