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Most retailers know that technology has played an increasingly important role in helping retailers set prices. But until recently, these efforts have been rooted in advances in computing technology, rather than in newfound applications of scientifi c principles. Real science is a powerful, pervasive force in retailing today, particularly so for addressing the complex challenge of retail pricing. Done right, the application of scientifi c principles to the creation of a true price optimization strategy can lead to signifi cant sales, margin, and profi t lift for retailers.
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