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From Fragmented to Unified: Why Retailers Need to Integrate Their Pricing & Promotions Capabilities

Q4, 2024

The retail industry is witnessing a significant shift as increasingly value-conscious consumers drive retailers to sharpen their focus on pricing and promotions. With economic uncertainty looming, 84% of shoppers cite price as a critical factor in their purchasing decisions. This 'value reset' is compelling retailers to adapt their strategies, offering more aggressive discounts to align with consumer demand for better value. Promotions have become essential, driving an estimated $1 trillion in sales in 2023 and accounting for about 20% of total retail sales in both the U.S. and EMEA.

This report explores the current state of retail pricing and promotions, revealing critical insights into industry challenges and opportunities. It uncovers a significant maturity gap, with only 1 in 4 retailers having advanced or dynamic capabilities in these areas. The study highlights how outdated technology, poor data quality, and cultural resistance impede progress. For executives seeking to enhance their strategies, this report provides essential insights into the benefits of unification and optimization. It offers a roadmap for leveraging advanced analytics and AI, potentially driving up to $450 billion in incremental retail sales through effective optimization solutions.

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As consumers continue to reshape their expectations,

enterprises must contend with a uniquely challenging landscape.

The consumer technology landscape is forever changing.

From Pinterest to TikTok, WeChat to Instagram, new experiences can rapidly gain consumer adoption and relevance.

Consumer, Technology, Incisiv

From augmented reality to voice, smartwatches to chatbots, consumers are constantly embracing new interaction paradigms.

Commoditized convenience is eroding loyalty and margin.

Consumers expect convenience. If you can't deliver it, they'll go elsewhere - e.g. next day shipping becoming the new standard.

Walmart will reportedly lose USD 1 billion on eCommerce revenue of USD 21 billion this year as it faces challenges in its bid to complete against Amazon – from trouble integrating its DNVB acquisitions to impact on margin from its next-day delivery operations.

Consumers value experiences that are curated to fit their lives better.

They want to engage, be served, and transact at their time, their pace, their place. They have little patience, infinite choice and the freedom to swipe left at the slightest hint of friction.

Consumer, Experience, Incisiv

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