Are Top Retailers Pricing Dynamically?

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Shoppers compare prices across retailers’ sites and on the barometer of Amazon’s [IRDX RAMZ] marketplace but while this snapshot gives a single view, watching over the longer term gives insight into those retailers’ pricing strategies. Being visible and found is an important start to the sales process but a product’s price is a determining factor in gaining both the visit and the sale. While some retail brands are able to control prices, for many retailers price competition is vital. How do…

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Why Centralized Inventory Management is the Key to Profitability in an Omnichannel World

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By Brandon Levey, CEO of Stitch Labs. When it comes to retail profitability, a significant factor that’s often overlooked and under-optimized is inventory management. Your inventory is your greatest asset, but it can easily become one of your biggest liabilities. Annually, retailers lose $1.75 trillion due to overstocks, out-of-stocks, and preventable returns, and the combined impact of these inventory cost drivers typically results in up to 11.7% in lost revenue for individual retailers. That’s an 11% total revenue loss across…

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How Price Testing Enables Retailers to Make Smarter Decisions

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The ability to price effectively is becoming a core competency needed in the retail industry in order to maintain a sustainable competitive advantage. It’s the reality in such a saturated market with increasingly sophisticated competitors. Pricing strategy is a unique part of online retail because the same strategy won’t necessarily work across the board. Why? First, there isn’t one magical pricing strategy that works for all retailers. Second, one pricing strategy doesn’t always work across all of a retailer’s SKUs.…

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The Benefits and Challenges of Multichannel Selling

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By Megan DeGruttola, Content Strategist at Stitch Labs. As the pace of today’s technology accelerates, the evolution of the retail landscape has also continued to advance. There are more channels to sell on and ways to reach shoppers than ever before, and smart retailers are taking advantage of these new virtual selling platforms. They understand the best way to fuel growth is by adopting a multichannel (or omni-channel) sales and brand strategy. Yet, the more sales channels and technologies you…

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3 Things All Retailers Need to Do to Get Ready for the Holidays

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*Written by Angelica Valentine It’s time for things to heat up in retail as we get ready for summer and the famed holiday season. There are a few things retailers need to do in order to set themselves up for success. Rethink Pricing How are you priced compared to competitors? If this question makes you panic, then gaining competitive insight needs to be a priority going forward. Market Price Index is a metric that explains how your prices stack with…

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