In the world of retail, there’s a reason why the old saying is “pricing is king.” Over and over again we hear how the right price point and relevant promotions will be the primary factor in obtaining and retaining customers as well as maintaining a profitable retail business.
But as retailers are swept into new technologies at an accelerated rate, do the old rules need to change? Will legacy pricing and promotion techniques and tools remain king? Or does an emerging unified merchandising model threaten to overthrow an outdated regime?
In this white paper, we discuss how unified merchandising more robustly leverages previously disparate data sources to allow more sophisticated, real-time pricing and promotions, while using artificial intelligence (AI) to create customer-centric product assortments focused on favorite localized brands, loyalty levels, and competition.