By Gina Acosta
Source: Progressive Grocer
How should grocers be fine-tuning their pricing and promotions strategies amid decreasing consumer confidence, persistent inflation and increased pressure on P&Ls?
“Retailers are under a lot of pressure,” said Raley’s Supermarkets Senior Director of Merchandising Operations Chris Pecot, who spoke at NIQ’s Consumer 360 conference in Los Angeles last week. “It doesn’t matter whether there’s a near-recession or recession, units are declining, and to a grocery retailer, we know that consumers are going to mass and to other value retailers. So now that you have the data, what are you going to do with it?”
That’s where innovation in pricing and promotions comes in, with a bit of omnichannel analytics too