Despite a positive job market and a stabilized economic environment, most consumers (96%) are looking to save money in the short term, according to a recent study from PwC. But at the same time merchants’ margins are being squeezed, making intelligent pricing and promotions strategies even more critical for success.
Lifecycle pricing, which integrates base pricing, promotions and markdowns into one holistic strategy, can help merchants optimize their approach — especially as they strive to localize, and even personalize, experiences for consumers across all channels.
