Dominick Miserandino’s Post

"Pricing is not simply 'supply and demand'. Pricing has a psychology component to it." - RetailWire CEO Dominick Miserandino recently shared insights on retail pricing strategies on live TV at NewsNation. As inflation impacts spending habits, retailers like McDonald's are using value-driven promotions to keep customers coming back. Is it going to be a "summer of value"? (Brian Harbour, CFA of Morgan Stanley) What should retailers do to attract price-sensitive customers? Comment your thoughts below!

Today, the consumer packaged goods industry is marked by a high degree of uncertainty, with consumers unwilling (or unable) to spend their dwindling discretionary dollars. In his recent article for TotalRetail, FourKites' SVP of Industry Strategy Mark Delaney unpacks the growing trend of direct-to-store delivery, and gets to the bottom of how DSD can transform the modern CPG operation. https://4kites.cc/44dwIls #retail #industry #commerce #supplychain #economy

Like it or not it’s happening. Justified or not every seller and manufacturer have the right to define prices and pack sizes. Virtues of free market economy we all live by! The problem is that intentionally and thru various incentives over time many large scale retail businesses are driven into heavy dependencies. Particular brands and manufacturers are often allowed to dominate 80-90% of shelf space. Allowing all this to happen and then complaining about the way they behave just doesn’t make sense. Dominating a category allows for autonomous and often one sided, even imperative decisions. Of course, what else did we expect? If not happy with the model, make an effort to change it. Can’t keep inviting same guests all the time and continue complaining about them. It’s schizophrenic. #retaildemocratization

Accurate prices are a key signal to both suppliers and consumers in a market: to adjust their behaviour in order to maintain a balance between supply and demand as they fluctuate - any economist will happily tell you this. So, the faster the adjustments happen, the smoother this process works. But does that apply to supermarket prices too? Walmart is introducing digital shelf price labels, that can be updated in literally almost no time. Is this, as some suggest, a devious way to implement Uber-style surge prices that allow big chains to exploit their customers, or is the move entirely benign? I wrote about it here: https://lnkd.in/eqeUtv3v Enjoy! #behaviouraleconomics #behavioraleconomics #psychology #decisionmaking #consumers #retail

Lyle Everingham, one of Kroger's CEOs who led the grocery chain's amazing transition in the 1970s said this: "We did extensive research, and the data came back loud and clear: the supercombination stores were the way of the future. There was skepticism at first, but once we looked at the facts, there was really no question about what we had to do." #Customers are the most important stakeholders you should consult during those critical times. The rest you may ignore. Customers are normally engaged through #MarketResearch. Insights from those customers will help you to understand the current dynamics while predicting the future. If you have the customer on your side, you minimize the risk of your next move by a significant percentage. #CoachBM #MarketResearch #TurnAroundStrategies

What do value retailers do differently that sets their supply chains apart from their retail counterparts? Our latest research reveals 5 characteristics of value retailers' supply chains that would effectively improve other retailers' supply chains. Take a read through the paper written by Arun Kochar, Michael Brown, Ben Kuo, Nandan Katte, and me.

Today, the consumer packaged goods industry is marked by a high degree of uncertainty, with consumers unwilling (or unable) to spend their dwindling discretionary dollars. In his recent article for TotalRetail, FourKites' SVP of Industry Strategy Mark Delaney unpacks the growing trend of direct-to-store delivery, and gets to the bottom of how DSD can transform the modern CPG operation. https://4kites.cc/44dwIls #retail #industry #commerce #supplychain #economy

Today, the consumer packaged goods industry is marked by a high degree of uncertainty, with consumers unwilling (or unable) to spend their dwindling discretionary dollars. In his recent article for TotalRetail, FourKites' SVP of Industry Strategy Mark Delaney unpacks the growing trend of direct-to-store delivery, and gets to the bottom of how DSD can transform the modern CPG operation. https://4kites.cc/44dwIls #retail #industry #commerce #supplychain #economy

The folks Solomon Partners just dropped a super interesting report on the state of retail and M&A. Thank you John LeVert 2024 will be a landmark year in the retail. 🛒 Picture the retail landscape back in 2006 - a diverse field with numerous players. Now, fast-forward to the present: a vastly different scene unfolds: In 2006 the top 10 retailers accounted for 35% of total retail revenues. (publicly traded revenue) Today the top 10 retailers dominate accounting for nearly 77% of the total retail revenue. 💰 This isn’t mere growth; it’s a revolution in retail dominance! 🚀 Meanwhile, those outside the top 10 previously peaking at about 34% of revenue share, have seen their slice of the revenue share shrink to less than 23%. (Probably not a good thing for slotting, ad fees and trade spend) 🔥Hot take: All retailers have gotten better at bringing innovation to maket (a tailwind for emerging food and beverage brands) However further consolidation and concentration of retail revenue will likely create greater pricing and promotion power for the retailers (likely a headwind for emerging brand) Cough cough (Kroger and Albertsons) 👀 Notably not included here: Trader Joe’s, Wegmans, HEB & Aldi. (A non trivial amount of revenue) Full report here 👇 https://lnkd.in/g-EegDWS ✨ #RetailRevolution #MarketDominance #InnovationInRetail”

🍭🛍 Unlock the Art and Science of Successful Retail Pricing! ⠀ Setting the perfect price isn't just a numbers game, it's an art fused with science. Join us as we navigate the intricate landscape of retail #pricing, where every decision impacts consumer behavior and market competitiveness. ⠀ 👉 Read the latest article from Consulting for Retail, and explore the internal & external factors you need to consider shaping a winning pricing strategy! Article is available at the link⤵️ https://lnkd.in/emWm6PEd ___  #consultingforretail #blogc4r #RetailStrategy #PricingStrategies #BusinessInsights #RetailPricing