Convenience Stores
Many convenience store retailers use pricing rules that lean heavily toward average gross margins and rounding rules. Yet, consumers in your stores provide feedback on your pricing each and everyday with the purchase decisions they do or do not make. The challenge is to understand this feedback and then be able to develop and execute pricing tactics that achieve your financial objectives.
For key categories such as cigarettes, beer and soft drinks, being priced right often means the difference between a one-time sale or a life-time customer. Plus, there is the lack of corporate insight into the impact of local competition, which is necessary to devise effective pricing tactics for selective locations – and in response to your competition.
The KSS Retail price optimization solution allows you to capture, understand, model and then execute pricing that aligns with your overall market strategy. You will better:
- Manage the complexity of cigarette buy-downs
- Understand what items you need to price off competition, and what price to set
- Manage DSD and vendor promotions and understand their impact on other items in the category
- Manage DSD and vendor promotions and understand their interrelated impacts
- Determine which promotions are driving store traffic and increasing category purchases
- Better evaluate promotions that are increasing volume but diminishing category profits