Getting on the Fast Track to Better Retail Pricing & Analytics

by Admin August 11, 2017

The explosion of online shopping has created a constant stream of price changes flooding the retail market. It has also created unprecedented price transparency, making it easier than ever for shoppers to hunt down the best deals and discover bargains for every conceivable product or service in a matter of minutes and even seconds.

This has heightened pricing competition across the retail sector, from department stores and specialty merchants to supermarkets and discount retailers.

However, while shoppers are benefiting from never-before-seen choice and value, many brick-and-mortar retailers are struggling to keep up and remain competitive because they’re burdened by 20th century pricing systems in a 21st century digital landscape.

Unlike online merchants armed with sophisticated price optimization technology, many brick-and-mortar retailers are weighed down by labor-intensive, manual systems that are ill-equipped to handle this sudden surge in price changes. This often means that they fail to deliver the right price to consumers at the right time.

The result is a lack of price competitiveness and a compromised customer experience that eats into sales and profit margins. It also risks surrendering precious market share to competitors armed with pricing systems and strategies designed for today’s e-commerce and omnichannel landscape.

To stay ahead of the game, store retailers have placed a high priority on finding ways to keep up with competitors’ pricing and ensure that their stores change prices accurately and at precisely the right time.

Zebra’s PME Pricing Platform

One way retailers are getting ahead is by adopting the Price Management Execution (PME) platform from our partners at Zebra Technologies.

PME is a single suite of hardware, software, and services that seamlessly handles price changes in real time. The PME platform brings instant visibility into price changes–from the store floor to the corporate office–to inform smart pricing decisions. It also boosts worker productivity along the way.

How Zebra’s PME Works

Zebra’s PME platform integrates price analytics, mobile computing, mobile printing, a mobile price change application, your ERP, and your point-of-sale systems to help you implement price changes in real time.

It transforms manual, labor-intensive pricing processes into a single automated, streamlined system built for speed and scale.

After your retail corporate office or third-party analytics provider sets your pricing strategy, pricing changes are sent electronically to Zebra’s PME software, which resides on a server. It updates prices immediately and seamlessly, and it offers real-time visibility into every single item at the store level.

Using the Zebra PME mobile app running on a Zebra mobile computer, your in-store line workers can access up-to-the-minute pricing updates and see price changes that should be made, including by priority.

Zebra’s PME platform can also drive retailers’ electronic shelf label (ESL) strategy. Zebra’s PME platform will ensure the price changes are executed for ESL, as scheduled, as well as empowering mobile in-store line workers for traditional tag changes.

Finally, the PME software distributes a continuous, real-time feedback loop of pricing intelligence to each system component—from the retailer’s corporate office (for critical operational visibility into store price changes) to the in-store point-of-sale. This ensures each price-change on the store floor is updated at the point-of-sale to the analytics engine.

Predictive performance is also improved by providing visibility into price changes for comparison to the forecast.

Explore the Benefits for Your Business

At ASI, we partner with Zebra to bring the PME platform and a full range of omnichannel solutions to today’s retailers. We’d be happy to help you learn more about Zebra’s PME and what it can do to help you boost competitiveness and deliver better customer experiences in your stores. Contact us now to request a free consultation.

Tags:

General | Zebra

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