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Influencing Price Perception to Drive Sales and Boost Margins

By Leveraging Data and Analytics

Consumers are looking for more convenience. The rise of online shopping and “everything stores” have made big office supplies stores less attractive to shoppers. For these big retailers, optimal pricing is key to keep a competitive advantage. To address this challenge, an international office supplies retailer wanted to understand what drives their customers’ price perception. To be precise, they wanted to know which items are most price-sensitive, identifying the so-called key value items. Their goal was to improve their pricing strategy in order to influence their customers’ price perception, thereby stimulating purchases and increasing sales.

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