RetailPricingWarsAreportonUKretailerpricingstrategiesResearchbyOmniaRetaillDecember2018ForUKretailers,pricingismoreimportantthaneverbefore.Consumerscannowresearchandcompareproductseasilyso,whenpickingwhichretailertoshopwith,theywilloftenlookatpriceaheadofplace,peopleandevenproduct.Tostandout,manyretailersmistakenlyconflateofferingconsumersthe“best”priceswithsimplyofferingthelowestcomparedtotheircompetition–adamagingfalseeconomy,whichcangreatlydiminishmarginsandoverallprofitability.Moreconcerningly,someretailersunderestimatetheimportanceofpriceandsimplydonotmonitorpricesatall.Retailbrandsthatignoresuchakeycompetitiveadvantageriskoffallingoutoftouchwitharapidly-shiftingmarket.Ofcourse,constantpricemonitoringandmodificationcanbeanoneroustask.Afterall,theaverageretailernowneedstoconsidermillionsofpricingdecisionsdailytokeepup,andmanyretailerssimplydonothavethetimetomonitorpricingasmuchastheyshould.Thus,weoftenseepricingstrategiesthatareineffective,notfit-for-purposeorevenabsentaltogether.Weneedtothinkonhowtopricemoreintelligently;notabouttakingpartinadamagingpricewar–whichmerelytakesintoaccountexternalfactorssuchascompetitorpricing-butratherabouttakingabroaderviewofthemarketasawhole.Thismeansconsideringarangeoffactorsbothexternalandinternal,suchasongoingcommercialstrategy,inventorylevelsandstockpurchaseprices.It’shightimewepaidmoreattentiontothecostofunintelligentpricing.It’stimeforachange.ForewordfromSanderRooseFounderandCEO2OmniaRetailisledbyfounderandCEOSanderRoose,whohasmorethan15yearsofretailexperience.SincelaunchinginAmsterdamin2013,thebusinesshasgrowntoservicemorethan100leadingretailersincludingDecathlon,Samsung,MediaMarket,Windelen.de,TennisPoint,Wehkamp,SignaSportUnitedandCoolblue.ItsDynamicPricingmodulehasalreadyhelpedexistingclientsseeupto50%improvementinsalesandmargingrowth,whileitsDynamicMarketingproducthashelpedclientsexperienceuptofourtimesmoregrowthonmarketingchannelslikeGoogleShopping.TheleadingSaaSsolutionforintegratedpricingandonlinemarketing...
