The 7 Challenges of Modern Competitive Pricing
Different assortment sizes and formulations pose challenges to price checkers who work from static comparison lists. With Amazon’s rapidly expanding penetration of the food retail market, center-store items are becoming more and more commoditized with price having a greater impact on consumer decisions. At the same time, specialty formats like Trader Joe’s and deep discounters such as Aldi and Lidl continue to execute on delivering cost-effective differentiated private label programs. The fresh side of the store is becoming the battleground where stores need to differentiate themselves. In order to do so, accurate competitive pricing programs that take into account size, quantity, formulations, and other attributes are needed.
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