Infographic – 5 Ways ChainDrive Software Optimizes Price Management
If you want to scale-up your retail business with the right price optimization and management software, request a free live demo to see how ChainDrive B2B pricing software ramp up your retail chain to the next level.
Price Management is much more than making sure the right number is on the tag. Effective price management means that the number on the tag is appropriate because the pricing has been analyzed accurately and fine-tuned for location and promotional campaign. ChainDrive retail management software has a price management component that can handle analyzing price appropriateness and improve price responsiveness with ease.
In order to analyze pricing strategies, all pertinent data needs to be available. The ability to access historical data in various configurations and compare it to real-time information is vital to the process. Tracking and analyzing changes will reveal which price point has the effect you are interested in.
ChainDrive’s integrated database is a secure depository for all your information, and because it is centralized, it provides all the data from one end of the business to the other. This enables authorized management access to exactly what is needed for analysis of past pricing strategies and provides real-time monitoring of price change decisions over time.
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[…] worth. If prices are too discounted, retailers suffer by losing money on products they invested in. Price management needs to be profitable so it must be consistent, on point, and […]