target audience: TECH SUPPLIER Publication date: Nov 2022 - Document type: IDC Survey Spotlight - Doc Document number: # US49358122
Retail Price Optimization
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Abstract
This IDC Survey Spotlight examines the causal effect of price using retailer adoption of pricing/promotion optimization tools in marketing. We examine the data across multiple retail sectors and associate common sector attributes to better understand the impact of factors in the adoption of price optimization tools. We specifically look at the frequency of purchases and average unit retail (AUR) price points based on store type and highlight customer sensitivity as drivers for price optimization/promotion across certain retail sectors and not others. Clearly there is a correlative effect from certain sector such as food and grocery to price that is less impactful in other retail types such as apparel or electronics.