How to Build a Demand-Led Pricing Model
In a consumer-driven landscape, a competitive pricing model is one that tallies with consumers’ value perceptions. The knee-jerk reaction during an economic downturn is to aggressively bring prices down to attract cash-strapped customers. However, the sudden drop in prices affects consumer perception, leading to reservations about product quality and long-term value. Adding to the situation, […]
Why Fashion Retailers Should Use Real-Time Data to Strengthen Profits
Retailers should be aware discounting is a double-edged sword. While markdowns are inevitable, it doesn’t mean they have to amount to a huge loss.
Building a Competitive Pricing Strategy with Just Two Steps
To build a competitive pricing strategy in the current climate, retailers have to prioritise value over margins. The latter is central to the fixed markup pricing mechanism, which aims to boost profit by multiplying the cost of goods at a predetermined rate to determine the selling price. It is a simple and straightforward solution, especially […]
The Secret to Everlane’s Pricing Strategy
Marketed as the ‘most radically transparent’ apparel brand in the industry, Everlane’s mission was about bringing full accountability to the table and revealing the true cost behind each product. Choosing the direct-to-consumer approach, Everlane was able to cut the middleman and adopt a unique pricing strategy that enabled them to produce high-end essentials at a […]
Instagram Fashion Sellers: Using Real-Time Data to Strengthen Profit Return
It is no secret that Instagram now boasts more than 800 million users, and is taking the retail and fashion world by storm. According to a report by L2, a company that analyses brands’ digital presence, 93% of fashion brands from Marc Jacobs to Topshop are now on Instagram, although they’ve been using it as […]
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