As we close out November and move into December, it’s that time again for the annual retail predictions. While always interesting and fun, the predictions have become a realistic gauge of what many retailers will be focusing on for the coming year. It doesn’t seem that long ago when people were predicting the death of the retail store or even just the death of retail. Now respected retail news outlets, such as Chain Store Age, are reaching out to people with their finger directly on the pulse of retail to get their thoughts for the following year.
Q3/Q4 earnings results are in for most of the leading publicly traded restaurant brands in the US. While some brands, such as Starbucks, Dunkin, and Chipotle reported strong sales and earnings growth, others such as McDonald’s, Darden, and Yum (the parent brand of Taco Bell, KFC, Pizza Hut, and WingStreet) missed the mark. What has separated the winners from the losers?
Pricing Solutions have been around for many years in retail, and commonly the question is asked: Well, do they work?
Unfortunately, the answer is not easily determined because it has been challenging to decide what is meant by success and even harder to measure success. Measurement needs to be built into pricing projects from day one, and these measurements need to align with the pricing activities.
Consumer Goods industry is still adapting to the new rules of the game that are being set by Amazon and other e-commerce players. CPG company’s online channel is rapidly growing with 43% of CPG’s revenue growth already being driven by ecommerce and online sales expected to double in next five years.