How does a 3% improvement in margin dollars sound?
Identifying the ideal price point isn’t about having the lowest price, but rather optimizing your numbers to drive sales and margins. Competitors’ prices are only one of several data points that retailers must consider when formulating their own pricing strategy. Ugam engages with many retailers on their competitive pricing strategy, which gives us the experience and knowledge in this area. During the course of many years of work we have come across several democratic, but not so obvious indicators that can and should be considered while deciding on pricing.
This paper sheds light on these indicators that should influence your pricing.
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×Ugam, a Merkle company, is a leading analytics and technology services company. Our customer-centric approach delivers impactful business results for large corporations by leveraging data, technology, and expertise. We consistently deliver superior, impactful results through the right blend of human intelligence and AI. With 2400+ people spread across locations worldwide, we successfully deploy our services to create success stories across industries like Retail & Consumer Brands, High Tech, BFSI, Distribution, and Market Research & Consulting. Over the past 20 years, Ugam has been recognized by several firms including Forrester and Gartner, and was recently named the No.1 data science company in India by Analytics Insight.