Challenges and Actions
Retailer was losing market share due to shoppers’ poor perception of price/value. Our retail client felt their prices were competitive, but they weren’t viewed as such. We researched their prices and the market and found their prices were mostly competitive, yet fragmented and inconsistent. After isolating pricing gaps between everyday prices and promoted prices (internal and competitive), we implemented a multi-dimensional pricing strategy to align price points and promotional timing with value-based shopper communications.
Regained market share and increased same-store sales over trend by 2.4%.