‘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 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 MorePrice Addiction
It never ceases to amaze me how addicted people get to low prices. You probably think I’m talking about buyers, don’t you? Well I’m not.
Read MoreMarket Driven Pricing
A May 9, 2012 Bloomberg Businessweek article, Macy’s 1Q profit jumps 38 percent, attributes the company’s success to its ability to tailor its fashions to local markets. This kind of insight often elicits a “duh” response, yet I can’t help but wonder how many of you are actually employing this strategy? If you did, what difference would it make for your business?
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