Retailers need customers to survive. To a lesser extent, customers need retailers, though the law of supply and demand greatly works against the physical retailer today. The cost to obtain a new customer is nearly 5x what it costs to retain one, thus retailers should work emphatically to ensure that they retain their customers (who … Continue reading You Are Losing Customers
In a recent survey by PlanetRetail, commissioned by DisplayData, a wide swath of retailers were asked to share their priorities in pricing dynamics in their stores. The complete pictures paints an image of retailers constantly struggling with pricing strategies and illustrates the importance of technology at the shelf edge to assist in creating a more … Continue reading Strategic Retailer Pricing Priorities
Smart retailers take advantage of many strategies to supercharge their in-store experience. We're firm believers in the shelf-edge and how technology can transform a customer's trip to your store, but focusing solely on ESLs as the game-changer your store needs is short-sighted. Quite simply, you must utilize as many techniques as possible to keep people … Continue reading Supercharge Your Store
Source: Pinterist Do you remember green ketchup? Several years back, Heinz changed their signature ketchup formula to turn it from red to green - and the response was astounding. 10 Million bottles for sales of roughly $23 million. Factories churned 24 hours a day 7 days a week attempting to keep up with the demand. … Continue reading Red and Yellow Your Way to Increased Profits.
What's a penny to your bottom line? Retailers often assume that they need to collect every cent in improving their bottom line. But the difference in a penny can make a world of difference - depending on your product. We've all seen the numbers - but have you actually thought about the psychology behind it? … Continue reading Charm Pricing