A new on-the-spot price adjustment system has been implemented by Guess, ushering in a new era for brick-and-mortar retail locations. The clothing brand started using JDA's Pricer which has been described as a software that reduces "the time it takes to complete price changes and better serve customers with promotions geared toward specific regions."
According to the brand, it can take up to four hours to edit various in-store promotion prices, but the new system allows individuals to complete the task in less than 30 minutes. In a conversation with RIS, Jen Lange, Guess' merchandise systems administrator, stated that the company "wanted the ability to give the customer a better experience and start doing more boutique like promos that are demographic based.”
Image Credit: Guess clothing store stock photo from TY Lim
Why This Trend Is Growing
- On-the-spot Price Adjustment
- Technology that allows for in-store price adjustments will revolutionize the retail industry by providing immediate and targeted promotions to customers.
- Streamlined Price Changes
- Software that reduces the time and effort required to edit in-store promotions will increase efficiency and profitability for retailers.
- Demographic-based Promotions
- Retailers can use data analysis to better target promotions based on customer demographics and increase sales.
Industries Being Reshaped
- Retail Industry
- In-store price adjustment software will disrupt and modernize traditional brick-and-mortar retail businesses.
- Data Analysis Industry
- The use of data analysis to create demographic-based promotions can create new opportunities and revenue streams for businesses.
- Software Development Industry
- Continued innovation and development of technology that streamlines in-store promotions will be necessary to remain competitive in the retail industry.
