This IDC study uses the IDC MarketScape model to provide an assessment of vendors participating in the retail price optimization application market.
"Price is a cornerstone of successful retailing, a lynchpin for curated merchandise orchestration. Its many stakeholders can hold conflicting objectives. Setting the best price is always complex and data intensive, often error prone, and too frequently suboptimal," said Greg Girard, program director of Worldwide Retail Intelligent Product Merchandising and Marketing Strategies and primary analyst of this research. "At the scale, speed, and complexity of retail today, great pricing decisions and poor ones quickly manifest in polar opposite financial results — revenue, units sold, and margins; supply chain conditions — notably in inventory turns, out of stocks, and aging/surplus stock; and in market position. The accelerating digital transformation of retail enables and demands the pricing acumen and agility enabled by the technologies analyzed in this document."
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