RSR: Retailers place high value on competitive price intelligence

Walnut Creek, Calif. – Retailers are increasingly placing a high value on competitive price intelligence.



A new survey of 123 retailers from RSR Research co-sponsored by 360pi, “Pricing 2015,” indicates 59% of respondents reported competitive price intelligence as very valuable.



The survey also shows that competitive price intelligence was cited as the top intent for change at 34% of “retail winners” and 50% of “retail laggards.” Additional takeaways include:

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  The top three strategic pricing business challenges are increases in price sensitivity of consumers, pricing aggressiveness from competitors, and price transparency.


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  There is a relatively low 34% satisfaction rate with existing solutions, despite retailers’ perceived value in competitive price intelligence.


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  Fifty-one percent of respondents report that increasingly they fear consumers’ negative reactions to their pricing strategies, almost quadruple 14% from 2014.

“Not surprisingly, the study reveals that these retailers are largely divided in their opinions on how to best navigate today’s retail reality,” said Jenn Markey VP of marketing, 360pi. “However, the clear majority are aligned in their belief in the compelling value of competitive price intelligence, along with the need to invest in a best-in-class solution.”