Online transparency has created a disruption which necessitates more rigorous demand analysis and technology which can automate pricing across channels in a more dynamic fashion.
Scottsdale, AZ (PRWEB) July 15, 2014
Clear Demand, OmniChannel retail innovation leader, announced today innovations developed which fundamentally change competitive pricing in retail. Online transparency has created an unlimited assortment for consumers and in some cases prompted indiscriminate price matching. Often characterized as a “race to the bottom”, price matching can erode margins and misalign competitive price image. Clear Demand’s innovations include a Competitive Demand Model for measuring cross-competitive price pressure and an Enterprise Attribution Platform to understand the value associated with each attribute on the path to purchase; automate pricing; and alert merchants on sensitive items. Clear Demand recently published two content pieces to provide more detail: an article (Vol #4) entitled “Competitive Pricing in OmniChannel Retail. What Are You Missing?” and video entitled “Retail Competitive Pricing: Avoid Pricing Pitfalls”.
“Mobile and online technologies have changed the competitive landscape by providing consumers broader assortment choices with increased price transparency,” said Jim Sills, president and CEO, Clear Demand. “This disruption necessitates more rigorous demand analysis and technology which can automate pricing across channels in a more dynamic fashion.”
Online transparency has expanded the competition for retail sales by increasing the set of “substitutable products” found in a retailer’s assortment and the competitors’ assortment, both online and in-store. Therefore, online transparency has rendered traditional competitive pricing practices less effective in today’s OmniChannel environment and raised new questions for creating sustainable merchandise strategy, such as:
1. Which products do your shoppers consider competitive or acceptable substitutes for your products?
2. What resulting competitive pressure is exerted on your products and sales across channels?
3. What product attributes do your shoppers attach value to and what is their monetary value?
4. Where are the gaps in your assortment, relative to competitors, that your customers care about?
Clear Demand’s pricing and merchandising solutions answer these questions through a more rigorous demand analysis and technology which delivers more precise and dynamic competitive intelligence with which to plan assortments, prices and promotions.
About Clear Demand
Clear Demand is an innovative software company committed to answering today’s complex retail business issues with practical innovation, and the first to deliver an OmniChannel retail pricing solution. Architected on Big Data and delivered as a SaaS solution, Clear Demand’s innovations simplify adoption and use. For more information contact sales(at)ClearDemand(dot)com or visit us on the web at http://www.ClearDemand.com.