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Author's profile photo Steven Thorne

Price Optimization: Staying Competitive, Sustainable and Profitable

Retailers like you are challenged every day to find new ways to grow your business, focusing on maximizing both margins and revenues.  As recently reported, today’s shoppers are making far fewer purchases and trips to brick and mortar stores. Given the 8.5% CPI rise from July 2021 to July 2022, they are then in sticker shock when making those purchases.

During these unpredictable economic times, developing a practical and flexible retail pricing strategy no doubt leaves you frustrated, and your bottom line impacted. When you’re facing a complex retail landscape, dominated by inflation, hybrid commerce and the rising demand to operate sustainably, staying competitive is now more important than ever.  To help you make sense of today’s pricing landscape, and all the variables it includes, GK Software and SAP are launching an information rich webinar series, featuring retail experts who will share their practical, first-hand experiences and best practices to help you navigate these challenges.

Attend this series and you’ll learn how SAP Dynamic Pricing by GK is a powerful pricing solution for keeping you competitive and profitable by automating and optimizing your pricing processes.

Optimize Your Retail Pricing Strategy During Inflation

This series will address relevant and critical issues facing retailers today, starting with a panel discussion centered on Inflation. Topic experts will highlight the current inflationary impact to mid-market and enterprise sized retailers, and how dynamic pricing can help you reduce the impact of inflation on your business using proactive pricing strategies. Learn industry best practices and solutions that your business can start implementing today.

Staying Competitive in a Hybrid Retail Environment

The borders between retail types have become more blurred than ever before. Brick and mortar retailers are becoming more digital, while E-Commerce is expanding, and classic E-Com retailers are opening physical stores. This webinar session will cover the challenges that these developments have created, for both sides, and how you and other retailers can stay competitive in this environment.

Profitability and Waste Reduction

Within the complete food value chain, from farm to fork, everyone- especially retailers- is struggling with how to reduce the vast amount of generated waste. Left as is, we face both unnecessary costs and a growing, harmful impact to our environment.  In this webinar you’ll learn how intelligent pricing can help you optimize your markdown process for fresh and perishable goods, leading to improved corporate profitability and sustainability.

As with the grocery industry, the fashion industry is also struggling to solve the critical issue of excess stock, normally occurring at the end of the product lifecycle. During the transition time between a manufacturer’s launch of a new collection or season, any sales generated often have no or negative margins. If the items can’t be sold off, they usually then get thrown away. While expensive to your bottom-line, this excess production and minimal consumption contributes unnecessarily to global pollution and environmental degradation. Join us to learn how you can optimize your markdown pricing process using an intelligent pricing solution, to again keep you focused on profitability.

SAP Dynamic Pricing by GK

Throughout the series, you’ll discover practical retail best practices to help you grow and remain profitable.  One solution is SAP Dynamic Pricing by GK. SAP Dynamic Pricing by GK, an industry cloud solution, allows you to set strategic targets, while its AI capabilities calculates your prices daily (or even more frequently), allowing you to be more dynamic, competitive and profitable with your pricing.  We hope you can join us and learn more.

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