Struggling To Keep Pace: Are Your Online Channels Pulling Ahead Of Your Stores In The Pricing Race?

By Andrew Dark, CEO, Displaydata

It’s a new year, but retailers seem to be running the same race they were in 2014 and searching for a finish line that always seems beyond their reach. Retailers are well aware of the challenges of “getting the price right” and strategically managing pricing in all of their retail channels, but in 2014, consumers and media alike became consumed with the notions of “consumer price transparency” and “competitive price intelligence” that put retailers pricing tactics under a strong microscope.

One such tactic that caught a lot of attention was the increasing speed and frequency of retailers’ price changes and promotions – great for the online channels that can make millions of daily price changes with the push of a button, but not so great for brick and mortar stores who typically rely on paper labels. This disconnect has resulted in lower levels of customer confidence in store prices compared to online prices for the same merchandise.

According to our new consumer research report:

• 42% of U.S. consumers think retailers offer different prices online and offline
• 72% of U.S. shoppers leave the store without their intended purchases because they perceive the in-store price is too high

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