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The New Flavor of Price Matching

The New Flavor of Price Matching

In today’s price transparent world, retailers are going on the offensive in the battle for customers and offering ever more aggressive competitive pricing programs, such as Name Your Price (NYP) strategies and Walmart’s new Savings Catcher. Both of these are essentially yesterday’s price matching techniques, but with today’s priorities. Instead of relying on the shopper to ferret out better deals elsewhere, then...

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Big Data Analytics – Can Retailers Afford to be without this Insight?

Big Data Analytics – Can Retailers Afford to be without this Insight?

According to ITC Infotech: “One of the biggest challenges that U.S. retailers will face this year is the fear of losing their customers, as well as winning new ones, in a very competitive marketplace. To address these challenges, more companies will make aggressive investments in technology to gather intelligence about the buying trends and experiences of their customers.” While analysts have been saying this for years, it appears that...

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Why You Should Care About Price, Even if You Don’t Compete on It

Why You Should Care About Price, Even if You Don’t Compete on It

A recent Forbes article highlighted why some small product entrepreneurs are eschewing big box retail channels and tied in well with my previous post on differentiation.  The article outlines how there is room for smaller hardware retailers, primarily pure-plays, to gain online market share by competing on strong assortments and differentiated business models/go-to-market strategies. It demonstrates how hardware retailers do not have to...

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Right-Sizing the Footprint

Right-Sizing the Footprint

RadioShack has publicly announced that they are planning to close nearly 20% of their locations (1,100 stores) as the company’s share price continues to plunge. More than 90% of the U.S. population lives or works within minutes of a RadioShack location. “We are over-stored”, admits CFO, John Feray. Arguably, one of RadioShack’s largest flaws is their inability to compete on a multi-channel scale with other online retailers like...

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eTail West 2014: The Importance of an Omni-Channel Strategy

eTail West 2014: The Importance of an Omni-Channel Strategy

eTail West, as always, did not disappoint in terms of content and discussion. The panel sessions were especially interesting, containing a mix of perspectives from retailers and vendors alike, who talked about maintaining a competitive advantage, potential future trends, and the challenges and opportunities that lie ahead. In fact, 360pi’s CEO Alexander Rink participated on a panel at eTail West titled “Migrating from a...

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Retail Disruption Ups Ante for Price Intelligence

Retail Disruption Ups Ante for Price Intelligence

With everyone paying attention to the usual retail suspects, some retail disruptors have gone relatively unnoticed. With the spotlight on Amazon and their latest innovation, the unfolding debacle at JC Penney, and everyone’s quest to realize multichannel, less attention has been paid to such disruptors as electronic shelf labeling and mobile payments. Samsung is at the heart of the electronic shelf labeling revolution, which promises to...

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How Retailers Can Recover from Harsh Winter Woes

How Retailers Can Recover from Harsh Winter Woes

With Spring (still) just around the corner, this winter will be remembered as a one of the coldest in decades. As well, the 2013 holiday season was equally as cold to the majority of retailers from both a revenue and profitability perspective. Since then, retailers have had two months to regroup and prepare for the next wave of heavy shopping days that are largely centered around upcoming holidays. NRF surveys conducted by Prosper Insights...

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