‘Sudden’ Interest In Everyday Low Prices
An article by Ely Portillo in the CharlotteObserver.com indicates that Lowe’s is the latest company to try everyday low prices. This comes on the heels of ‘failed’ attempts by Macy’s a few years back and, more recently, JCPenney’s. The obvious question is “Why the sudden interest in everyday low prices?”
Read MoreWho Does A Good Job of Pricing?
Some days, despite your best intentions, you fumble the ball. Such was the case at the Retail Customer Experience Executive Summit when I was asked “Who [among retailers] does a good job of pricing?” My response was “most companies.” What I should have said was ‘most companies initially.’
Read MoreEverything That’s Wrong With Retail Summed Up In One Question
During my presentation at the Retail Customer Experience Executive Summit a question was asked that sums up everything that’s wrong with retail today. Care to guess what that question was?
Read MoreJCP Spurring Macy’s Profitability?
In his August 8, 2012 New York Post article, Macy’s profit climbs 16%, James Covert states “[Macy’s] Profit rose 16% as the New York-based retailer continued to lure away shoppers confused by Penney’s new pricing strategy under CEO Ron Johnson.” The questions we should be asking are “Why Macy’s? Why not Target or Walmart?”
Read MoreJCPenney: Not a Pricing Failure
There’s a lot of talk about JCP’s failed pricing strategy, but is it really the pricing that’s off?
In order for a pricing strategy to be effective, there must be congruency among four elements of that strategy. Those elements are:
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