Who is this document for?
This thought leadership article is written for professionals in retail organizations in a variety of verticals who are involved with retail technology solutions, particularly in the area of price management and markdowns. This may include senior executives, information technology, merchants, marketing, finance, and more.
What will I learn about?
Markdowns are often perceived in a negative light. They signal an error in a retailer’s best attempt to entice their finicky, increasingly price-aware customers to open their wallets and pay full price for items in whatever channel they prefer to shop. The uncertainty retailers face when it comes to pricing can lead to drastic efforts in the way of markdowns to offload excess stock at the end of the season. In this article, we explore ways retailers are transforming their pricing strategies
to reduce markdowns and maximize profits.
In this Mi9 Retail thought leadership article, you will learn:
- how to properly factor in markdowns from the start
- why considering the impact of geography is important
- how a centralized approach is beneficial
- and much more.