Retail Science & Pricing
Importance of pricing
Pricing is and will remain, king in retail. In the increasingly competitive environment, a retailer’s capability to leverage prices, create an optimal strategy, and execute optimal pricing (and discounting) is critical to success.
To ensure truly impactful Pricing & Promotions strategies and operations TPC understands that there are four key elements to success, underpinned by data-driven insights.
With over 100 years of cumulative experience in the pricing space, across retail and food services industries, TPC believes Pricing can be broken down into four general areas as well as bespoke projects:
Grow your internal pricing capability with us. We can help you define the optimal prices to achieve sales, volume, profit, and price image goals through a consultative, collaborative approach. Whether you want to move to dynamic pricing, or set base prices through value pricing, we have the expertise to leverage the correct Pricing technique for your unique scenario. Our goal is the same as yours, a base price aligned to your strategy that is operationally efficient to ensure delivery of your business goals.
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Achieve stock goals as profitably as possible, when it matters most, through our proven markdown approach. We have a 100% success rate in helping our retail clients increase margin performance and supporting better sell-through/stock management. Whether provided as a flexible service or as our small-footprint “Smart Tool” approach, our markdown service blends retail expertise and proven data science techniques to help you optimize markdown prices for sell-through, margin or any tailored combination to fit your needs.
Helping you optimize line-level promotional prices, quickly, easily, and objectively. Using proven data science techniques and small-footprint “Smart Tooling” we can help optimize promotional prices for margin, stock clearance, cash sales or any tailored combination to fit your needs. We drive between 2%-16% margin improvement on promotional events.