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Friday, August 02, 2019

Dynamic Pricing with Electronic Shelf Labels

An idea we did lots of prototyping with, shelf tags that could update prices electronically and display information about product.    We tested a number of ideas with consumers.    Seems Kroger was about to roll out the idea broadly.  Infrastructure in store to support it is increasingly common.

Has dynamic pricing hit a rut?  in Retailwire, with further Expert Comment.    by Guest contributor   Ben Unglesbee

Through a special arrangement, what follows is a summary of an article from Retail Dive, a publication providing new and exclusive insights to retail executives and decision makers.

Dynamic pricing — used to match prices in real-time with supply, demand and competitors — hasn’t hit the store level in any significant way, at least in the U.S. Online, dynamic pricing is common, if still not fully embraced or understood by retailers writ large.

One of the main reasons dynamic pricing isn’t more broadly used is that it is incredibly complicated to execute.

In its most advanced form, retailers don’t simply check their prices against competitors per item. “You also compare category to category, you compare common baskets to common baskets,” said Julien Gautier, marketing director of analytics firm ActiveViam. “But after that, you also have a strategy that involves your own brand. So you want places to be consistent with the brand image that you project.” .... " 

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