Operating a high-volume business on very tight margins is tricky. Gone are the days when planning your pricing and promotions was more predictable and rhythmic, and you could depend on foot traffic to increase sales and improve margins. As commerce continues to move at record speed in an environment that’s continually bombarded with new pricing challenges, your ability to quickly identify and adapt to changing conditions can greatly affect your revenue potential and profitability.

While ecommerce was already growing in recent years, the pandemic shifted this trajectory into high gear, accelerating the need to address revenue management and pricing challenges.

The knock-on effect continues at every turn as supply chain constraints disrupt product availability, cost increases affect consumer demand, labor shortages lower productivity and growing competition erodes margins and customer loyalty. These factors are adding complexity to pricing strategies in unprecedented ways. Fewer trade promotions and limited stock impede long-established opportunities to optimize price and improve margins.

To combat these challenges, technology investments are rapidly replacing outdated systems to price more intelligently and provide the transparency, flexibility and pricing power needed to compete in an ever-changing world.