Why do you need a 360 Customer View in Merchandising
Learn how Customer 360 can provide a complete view of customers and drive sales, improve margins, and optimize inventory levels for retailers.
In today’s omnichannel retail environment, your customer is no longer shopping in only one place. Customers interact with your retail business in-store, through your website, on social media channels, on apps, etc.
Because your customer accesses your brand across channels, and most likely through more than one, it is crucial for you to create an integrated and consistent experience throughout your entire business so customers can move frictionlessly through their shopping experience.
Omnichannel price consistency is particularly critical, as nowadays, consumers are going from one channel to the other fluidly. If you are not consistent, your brand might lose value in consumers’ eyes.
Price consistency for a brand in the omnichannel landscape includes:
Verifying that you have accurate information about your business’s real-time pricing data, as well as that of competitors and your partners, is vital to creating a competitive and consistent strategy that ensures a better customer experience.
Using a retail intelligence platform, you can quickly understand performance across your channels by tracking enterprise, market, and partner data and visualizing these metrics in one place. With access to these insights, you can track and monitor your own prices and prices on your partners’ sites in order to adjust your pricing strategy and remain consistent.
A retail analytics solution provides comprehensive reporting that allows you to assess pricing performance across different channels and make data-driven decisions to enhance strategies.
By leveraging these comprehensive capabilities through EDITED’s Retail Intelligence Platform, retailers can not only maintain pricing consistency, but can also optimize their pricing strategies to stay competitive in the dynamic retail landscape. This approach contributes to a seamless omnichannel experience for customers and an improved bottom line.
Uncover how EDITED can help you ensure consistent pricing in your omnichannel business today across both your own and partner channels. Schedule a meeting to learn more here.
Inventory Optimization, Pricing, Promotions & Campaigns
Discover how data and analytics help smart retailers optimize margins, improve sales revenue, and market share. Learn more about leveraging competitive data, internal data, and a customer-centric approach to make data-driven decisions. Read on!