Because customers often don’t distinguish between channels, customers expect the same products, prices, services, offers and promotions whether they are online, instore or on their mobiles. It’s therefore vital that fashion retailers ensure their propositions and consumer experiences are consistent across all channels. The challenge here for many fashion retailers is how to ensure this consistency occurs in offline stores.
More and more service providers are basing their business on the dynamic pricing logic, stabilising the demand between the peak times. It will only be a matter of time before customers will start requesting this on a consumer good level as well. The potential is huge, prices can be adapted, dependent on demand, weather or popularity across social media.
Digital price labelling and price optimisation is one such example. Easily integrating with legacy back-of-house systems and attached to apparel for sale, dynamic price labels allow product prices to be automatically updated. Pricing is consistent, and dynamic pricing – previously the remit of online only – can be enacted in-store, whenever and wherever needed.
Read complete article here: