About this paper
Given the industry’s inability to kick the price change habit, how can retailers at least make their price changes more effective? RSR believes there are four baseline steps they can take:
- Create a Strong Foundation: Get the right data
- Predict: Improve the ability to forecast the impact price changes will have on both revenue and gross margin dollars
- Execute: Find more efficient ways to communicate and execute the changes
- Analyze and validate: Compare predicted to actual results
This paper will explore how retailers can accomplish those four steps.