By Susan Boyme, Revionics, Inc.
The economic recovery hasn't shown the strength that the retail industry would like to see. Consumer spending continues to be conservative as the economy crawls out of its hole. Price and promotions dominate the consumer's buying decisions. Retailers feel unprecedented pressure to entice consumers via heavy promotional activity. The rush to maintain low price points, without thorough planning and analysis, can have an adverse impact on profitability. It's critical for the retailer to know exactly what, how, and when to promote. Just as important is how to communicate their promotional activities.
Used with permission from Integrated Solutions For Retailers magazine.