NewsRetail Industry

The Need for Digital Pricing Increases as COVID-19 Changes Shopping Habits

By April 14, 2020 July 27th, 2020 No Comments

Amid the COVID-19 pandemic, the distribution of paper flyers has slowly been on the decline as promotions shift to online spaces. Retail giants Loblaw Companies Ltd. and Canadian Tire have begun the transition to a weekly digital flyer. One motivator for this change has been the growing number of shoppers across all demographics who use their phones to compare competitor’s prices while in a particular store, making the traditional flyer less effective from the perspective of retailers. Because of this, the need for an agile pricing strategy has never been greater.

With Digital Smart Labels™, not only can retailers update pricing in line with their digital flyers, they can also respond immediately to competitor activities across all channels. If retailers are not able to stay flexible and nimble in the way that they do business, they are not likely to survive –  especially with all the financial uncertainties being faced as the need to cut costs increases.

Read the full article here.