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EDITED Research™Create pricing that improves full price sell-through and minimizes markdown. Understand the impact of a price change on sales and margin before you pull the trigger.
By Use Case
Key Challenges
First Price Precision
Making sure the first price is the right price to maximize your revenue.
Market Blindspots
Missing out on opportunities to improve your outcome due to a lack of information about what is happening in the market.
Price Change Precision
Having the agility to execute more surgical price changes while they are still relevant in your market.
Benefits
Market Informed Business Insights
Bring together market data and your internal data to understand the full picture of the market's impact on your performance.
Expose and Prioritize Opportunities
Take some of the crazy out of your day by quickly identifying and focusing on the highest-impact opportunities that drive growth.
Validate Your Decisions
Validate your choices internally with an independent source of truth – it's difficult to argue with data.
Sustainable Merchandising
Be good to your brand AND to the environment. Eliminate waste in your business with more accurate planning and decision-making throughout the product lifecycle.
How EDITED Helps
Set competitive prices
Pre-season: Get complete visibility into pricing strategies across multiple markets to determine how your prices stack up against competitors. By understanding how the competition is setting price points and pricing architectures, you can identify white space when planning your pricing strategy.
Shift pricing
In-season: See what price points you might be missing in the market and quickly understand where you can adjust to become more profitable. Market context allows you to shift pricing so you are not under or overpriced.
Identify pricing white space
Once you understand your competitors' price architecture, you can utilize the opportunities chart to evaluate what white space pricing opportunities exist and where you should increase prices. Using your internal business data, EDITED highlights where there are opportunities for price changes so you can validate your adjustment decisions with data.
Adjust prices in the moment
After you make these price adjustments, utilize the action impact chart to track how these changes actually impact your business performance.
Validate markdown decisions
During pre-season planning, visualize competitors' end-of-season sales to help strategize timings for markdowns or clearances. This data also reveals competitor in-season promotions and how these impacts your performance. Using EDITED, you can use data-powered metrics to validate markdown and clearance decisions and optimize inventory.
Ensure pricing alignment
For brands selling through third parties, this chart shows how the selected brands are discounted across their wholesale partner websites, allowing teams to ensure prices are in line with their own promotional strategy.
The Mango team had to get the price right on all products over 115 markets. The task would take 2-3 hours per country, and they were missing sales because they didn’t have the time to ensure they were capturing all the pricing adjustments. The team now uses EDITED to spot these opportunities to adjust pricing to maximize margin, and they’ve grown e-commerce sales by 50%.
Related Resources
Featured Insights
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