The Barriers That Hold Back Personalization Efforts In Pricing And Promotion

Conversations with industry leaders at Shoptalk uncover obstructions in strategy development.

The past 12 months have been a unique journey for the retail world, full of new strategies, ups and (far too many) downs. And consequently over these months, many retailers and those associated with the industry have had their noses to their individual grindstones. They have been focusing intently on what’s six inches from their faces rather than taking a long view of their efforts and collaborating with others in the industry.

I definitely found myself in that category. That is why the 19 retail experts I was given the privilege of speaking to at Shoptalk—an industry event that connects countless perspectives in retail with a focus on collaboration—offered such an enlightening experience. I had forgotten how important dialogue is to our business.

In the first part of this Shoptalk series, I discussed how the experts I spoke to overwhelmingly agreed that personalization in pricing and promotion is and will be an essential part of the retail space going forward. However, there was a lack of consensus on what “personalization” meant. Each perspective on the subject varied slightly, and different branches of retail had different definitions and applications of it.

To read the full article published on FORBES, click here.

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