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YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. MAP pricing is not legally binding, but rather a mutually beneficial agreement to price products at or above a set price. 6 REASONS YOUR RETAIL SALES ARE DROPPING AND HOW TOSEE MORE ONBLOG.WISER.COM
WHAT IS CATEGORY MANAGEMENT? DEFINITION AND EXAMPLES FORSEE MORE ONBLOG.WISER.COM
WHAT'S THE DIFFERENCE BETWEEN LINE EXTENSION AND BRANDSEE MORE ONBLOG.WISER.COM
5 UNETHICAL PRICING PITFALLS TO AVOID WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. BUILDING A STRONG RETAIL FOUNDATION Building a Strong Retail Foundation. As we talked about previously, retailers are constantly concerned about the factors surrounding sales losses. We get it, maintaining profits and reaching sales goals is tough, but it’s a misstep for retailers to blame outside forces. We know foot traffic is falling in stores across the nation due to e WHY IS AVERAGE UNIT RETAIL (AUR) IMPORTANT? Average Unit Retail Defined. Average Unit Retail, in simple terms, is the average price an item is sold for in a specific time period. AUR is calculated by dividing the total revenue or net sales in dollars by the number of items sold. If your total revenue for the day was $2,000, and you sold 100 units, your AUR for that day would be $20. WHAT IS THE GREY MARKET AND HOW TO REDUCE GREY MARKET Otherwise, the odds increase that they end up with a grey market seller. 3. Send Cease-and-Desist Letters. You can shift focus toward stopping these unauthorized sellers once you’ve tracked down the retailers who are selling your grey market products. #1 SOURCE FOR ONLINE AND IN-STORE RETAIL ANALYTICS Wiser Solutions is your one stop for MAP pricing, dynamic pricing, price intelligence, retail auditing, and more retail analyticsservices.
YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. MAP pricing is not legally binding, but rather a mutually beneficial agreement to price products at or above a set price. 6 REASONS YOUR RETAIL SALES ARE DROPPING AND HOW TOSEE MORE ONBLOG.WISER.COM
WHAT IS CATEGORY MANAGEMENT? DEFINITION AND EXAMPLES FORSEE MORE ONBLOG.WISER.COM
WHAT'S THE DIFFERENCE BETWEEN LINE EXTENSION AND BRANDSEE MORE ONBLOG.WISER.COM
5 UNETHICAL PRICING PITFALLS TO AVOID WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. BUILDING A STRONG RETAIL FOUNDATION Building a Strong Retail Foundation. As we talked about previously, retailers are constantly concerned about the factors surrounding sales losses. We get it, maintaining profits and reaching sales goals is tough, but it’s a misstep for retailers to blame outside forces. We know foot traffic is falling in stores across the nation due to e WHY IS AVERAGE UNIT RETAIL (AUR) IMPORTANT? Average Unit Retail Defined. Average Unit Retail, in simple terms, is the average price an item is sold for in a specific time period. AUR is calculated by dividing the total revenue or net sales in dollars by the number of items sold. If your total revenue for the day was $2,000, and you sold 100 units, your AUR for that day would be $20. WHAT IS THE GREY MARKET AND HOW TO REDUCE GREY MARKET Otherwise, the odds increase that they end up with a grey market seller. 3. Send Cease-and-Desist Letters. You can shift focus toward stopping these unauthorized sellers once you’ve tracked down the retailers who are selling your grey market products. PRICE MANAGEMENT SOFTWARE Wiser for Price Management helps businesses gather and act on price intelligence, reprice, and build pricing strategies for improvedrevenue execution.
CONSUMER EXPERIENCE SOFTWARE Get your products from the boardroom to the digital shelf exactly how you planned. Turn a vague, cloudy view of the market into a clear one. See exactly how your brand appears online—from prices to promotions and competitors—with our product execution tools. BRAND INTELLIGENCE SOFTWARE Brand Intelligence. The support you need to stay in control of your brand. Can you say with confidence how your brand looks across marketplaces, whether prices are MAP-compliant, or MARKET AWARENESS SOFTWARE Wiser for Market Awareness helps eCommerce retailers gather intelligence on competition, prices, and product positioning for improved market execution. THE PROS AND CONS OF DYNAMIC PRICING A few quick stats: Forrester Research estimates that price optimization software improves gross margins by 10 percent. On average, a dynamic pricing strategy increases profits by 25 percent. Of course, you’re most of the way convinced, but there’s no harm in a little social proof (like those handy customer reviews under eachof your products.)
WHAT IS PHANTOM INVENTORY? HERE’S HOW TO SPOT IT Phantom inventory is a problem for retailers because it generates zero dollars in sales. It’s inventory that you believe is on the shelf but doesn’t exist, which means nobody can buy it. Furthermore, phantom inventory creates more issues beyond lost revenue. The unknown nature of this type of inventory means you can’t attribute a poor HOW TO MEASURE CONSUMER BEHAVIOR: 3 METRICS FOR BRANDS AND A brick-and-mortar store is in constant motion. The assortment, merchandising, layout—all change often. Why? In order to maximize revenue and provide Need to better understand consumer behavior? Start with these three metrics—dwell time, traffic patterns, and customerloyalty—to get a
WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE IT In fact, almost half of your in-store traffic is mobile users. In order to remain consistent across all channels, in-store visibility is key. This “offline” data was previously difficult to collect, but innovative brands and retailers are able to leverage new technologies in the space to bring it to light. HOW BUY ONE, GET ONE CAN IMPROVE YOUR SALES Buy One, Get One is a great tool that can help you get rid of your less desirable inventory quicker and maintain profitability at the same time. Imagine that you are selling an item for $10 that cost you $2.50. If you place a half-off sale on this item, you would make a $2.50 profit from selling one. Now, if you offered the item in a BOGOsale
HOW TO USE PRICING AND PROMOTIONS TO IMPROVE CUSTOMER Customer satisfaction is based on various factors, pricing and promotions are just a piece of the puzzle. Optimizing pricing and promotions can be a win-win situation by boosting sales and creating loyal, happy customers. Successfully pricing products or services will create happy customers that are content with their purchase and theamount
#1 SOURCE FOR ONLINE AND IN-STORE RETAIL ANALYTICS Wiser Solutions is your one stop for MAP pricing, dynamic pricing, price intelligence, retail auditing, and more retail analyticsservices.
YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. MAP pricing is not legally binding, but rather a mutually beneficial agreement to price products at or above a set price. WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. 6 REASONS YOUR RETAIL SALES ARE DROPPING AND HOW TOSEE MORE ONBLOG.WISER.COM
WHAT ARE RETAIL MARKDOWNS? What are Retail Markdowns? A markdown is a reduction in the price of an item due to its inability to sell for its original selling price. For items with a specific selling season, the markdown is critical to sell inventory before the next season’s goods come. Alternatively, if you’re in the apparel or accessories industry, there is immense WHAT IS CATEGORY MANAGEMENT? DEFINITION AND EXAMPLES FORSEE MORE ONBLOG.WISER.COM
5 UNETHICAL PRICING PITFALLS TO AVOID WHY IS AVERAGE UNIT RETAIL (AUR) IMPORTANT? Average Unit Retail Defined. Average Unit Retail, in simple terms, is the average price an item is sold for in a specific time period. AUR is calculated by dividing the total revenue or net sales in dollars by the number of items sold. If your total revenue for the day was $2,000, and you sold 100 units, your AUR for that day would be $20. WHAT IS PENETRATION PRICING? ADVANTAGES AND DISADVANTAGES Penetration pricing is when a product is priced lower than the competition to drive sales during the initial release period. This is a pricing strategy often used by brands for a product that has high competition or is a relatively new idea. The low price helps penetrate the market by getting the attention of more consumers than a higherprice
WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
#1 SOURCE FOR ONLINE AND IN-STORE RETAIL ANALYTICS Wiser Solutions is your one stop for MAP pricing, dynamic pricing, price intelligence, retail auditing, and more retail analyticsservices.
YOUR GUIDE TO MAP PRICING [MINIMUM ADVERTISED PRICE A minimum advertised price policy, or MAP policy, is a pricing agreement between a manufacturer or brand and its resellers to not advertise the price of a specific product below a predetermined price. MAP pricing is not legally binding, but rather a mutually beneficial agreement to price products at or above a set price. WHAT IS CHARM PRICING? Charm pricing, also known as psychological pricing, is a pricing strategy that uses odd numbers—often nines—to demonstrate perceived value to shoppers and convince them to buy. For example, this pricing strategy is often identifiable by a price ending in 99 cents instead of a round number, such as $3.99 instead of $4.00. 6 REASONS YOUR RETAIL SALES ARE DROPPING AND HOW TOSEE MORE ONBLOG.WISER.COM
WHAT ARE RETAIL MARKDOWNS? What are Retail Markdowns? A markdown is a reduction in the price of an item due to its inability to sell for its original selling price. For items with a specific selling season, the markdown is critical to sell inventory before the next season’s goods come. Alternatively, if you’re in the apparel or accessories industry, there is immense WHAT IS CATEGORY MANAGEMENT? DEFINITION AND EXAMPLES FORSEE MORE ONBLOG.WISER.COM
5 UNETHICAL PRICING PITFALLS TO AVOID WHY IS AVERAGE UNIT RETAIL (AUR) IMPORTANT? Average Unit Retail Defined. Average Unit Retail, in simple terms, is the average price an item is sold for in a specific time period. AUR is calculated by dividing the total revenue or net sales in dollars by the number of items sold. If your total revenue for the day was $2,000, and you sold 100 units, your AUR for that day would be $20. WHAT IS PENETRATION PRICING? ADVANTAGES AND DISADVANTAGES Penetration pricing is when a product is priced lower than the competition to drive sales during the initial release period. This is a pricing strategy often used by brands for a product that has high competition or is a relatively new idea. The low price helps penetrate the market by getting the attention of more consumers than a higherprice
WHY IN-STORE VISIBILITY MATTERS AND HOW TO IMPROVE ITSEE MORE ONBLOG.WISER.COM
CONSUMER EXPERIENCE SOFTWARE Get your products from the boardroom to the digital shelf exactly how you planned. Turn a vague, cloudy view of the market into a clear one. See exactly how your brand appears online—from prices to promotions and competitors—with our product execution tools. PRICE MANAGEMENT SOFTWARE Wiser for Price Management helps businesses gather and act on price intelligence, reprice, and build pricing strategies for improvedrevenue execution.
BRAND INTELLIGENCE SOFTWARE Brand Intelligence. The support you need to stay in control of your brand. Can you say with confidence how your brand looks across marketplaces, whether prices are MAP-compliant, or MARKET AWARENESS SOFTWARE Wiser for Market Awareness helps eCommerce retailers gather intelligence on competition, prices, and product positioning for improved market execution. YOUR GUIDE TO BUILD—AND WIN—A PERFECT DIGITAL SHELF Are you looking for ways to increase your eCommerce sales? OK, this is a bit of a loaded question, because who doesn’t want more sales? The real question here is how you can boost sales. The answer lies in thedigital shelf.
WHAT IS VISUAL MERCHANDISING? Visual merchandising is a wide-ranging discipline that involves marketing, operations, design, and sales to create a compelling customer experience and drive sales. Understanding how to use data to fuel the creative aspects of it can be a true differentiator in a crowded retail field. shelf health. THE PROS AND CONS OF DYNAMIC PRICING A few quick stats: Forrester Research estimates that price optimization software improves gross margins by 10 percent. On average, a dynamic pricing strategy increases profits by 25 percent. Of course, you’re most of the way convinced, but there’s no harm in a little social proof (like those handy customer reviews under eachof your products.)
WHAT IS SKU RATIONALIZATION AND HOW CAN YOU GET IT RIGHT SKU rationalization is the process through which a brand or manufacturer determines if a product should be kept for sale or if it should be discontinued. Using sales data at the SKU level, a merchant can drive SKU optimization, engage in demand planning, detect cannibalization between SKUs, track eCommerce vs in-store metrics, andseveral other
WHAT IS PHANTOM INVENTORY? HERE’S HOW TO SPOT IT Phantom inventory is a problem for retailers because it generates zero dollars in sales. It’s inventory that you believe is on the shelf but doesn’t exist, which means nobody can buy it. Furthermore, phantom inventory creates more issues beyond lost revenue. The unknown nature of this type of inventory means you can’t attribute a poor CAPTIVE PRODUCT PRICING EXPLAINED: DEFINITION AND EXAMPLES The Captive Product Pricing Strategy. Speaking of paying an arm and a leg at the theme park for a fast pass, the strategy for pricing captive products typically goes like this: A company prices the core product—maybe the base ticket to the theme park—at a relatively low price, even at a loss.__ Navigation
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