BizSugar.com › Finance › Retailers Must Participate in Price Optimization

Retailers need up-to-the-moment information on their competitors’ products and prices to gain pricing insights, identify significant pricing opportunities, and note comparative price distributions and trends. Through the use of ever-sharper competitive intelligence tools and pricing intelligence and analytics, retailers are acting in real-time on the important information about what their competitors are doing.

In fact, research leader Gartner reports that the price optimization market is set to rebound: "Through 2014, investments in price optimization and management software will help increase gross margins, on average, by more than 2%."

Price optimization is worth retailers' effort and investment. Industry Insights' Gilon Miller explains why price monitoring is critical to retail success.