Pricing

As inflation persists, consumers are continuing to be cautious and experience stress. Financial reports from large retailers indicate a transition from discretionary spending to a focus on essential needs, an indicator of monetary strains among consumers. A New York Times article, “U.S. Consumers Are Showing Signs of Stress, Retailers Say,” notes that despite the resilience of…

In this episode of Total Retail Tech Insights, Editor-in-Chief Joe Keenan interviews Shikha Jain, partner and head of North American retail and consumer at Simon-Kucher, a global commercial growth and strategy consulting firm. Listen in as Jain discusses the work that Simon-Kucher does with retail organizations and the positive impact that it has had on…

Online prices in June 2023 fell 2.6 percent year-over-year (YoY), the most significant decrease since May 2020, when prices fell 1.5 percent YoY, according to the latest online inflation data from the Adobe Digital Price Index. June marks the 10th consecutive month of YoY price decreases, with over half of Adobe’s tracked categories (11 of 18)…

Today’s shopper behavior is changing faster than ever before. Typically, shopper behavior changes are slow and steady – like making course corrections on a big ship. However, with the highest inflation in 40 years, we are seeing material changes in shopping habits on a much shorter timeline. The Why Behind Price Increases The average shopping…

Consumers and businesses are both being impacted by ongoing inflation. Retailers must change their tactics in the current economic environment. They must understand the trends that have developed as a result of this inflationary environment in order to respond. In this post, I'll look at three tactics retailers may use to weather the current economic…

The rising cost of consumer packaged goods (CPGs) is more than a grocery and retail store annoyance. From social media to the Grammys, U.S. consumers are vocalizing their inflation frustration — and pointing fingers at who they think is responsible. Many feel that brands themselves are behind pricing increases (and with good reason). The New…

With the lingering effect of inflation, consumers are facing new woes and worries that are reflected in their spending and shopping habits. These inflationary pressures will continue to impact shoppers’ habits, and retailers must adapt quickly to ensure they don't miss out on the next decade of growth and profit potential. Recent consumer research tells…

Over the last year, unprecedented inflation has caused dramatic shifts in consumer purchase behavior. According to Gartner research, 45 percent of consumers were extremely concerned about price increases heading into 2023. Simultaneously, more than half of consumers have traded down in the past month in everyday lower-priced industries like consumer goods. While inflation appears to have…

Inflation has been eating away at profits for many retailers. The Consumer Price Index (CPI) measures the annual change in prices paid by consumers, calculated as a weighted average of prices for a basket of goods and services representative of aggregate consumer spending. When the pandemic began, global inflation was decreasing, and the downward trend…

What do changing customer behaviors, supply chain disruptions and cold weather have in common? They all greatly impact order management. With all three factors converging during the next few months, managing seasonal inventory can prove to be a major challenge for retailers. In a recent report about the 2022 holiday season, McKinsey shared that “consumer…