Participatory Pricing: The Next Big Thing in Retail Marketing
Date
Wednesday, July 30, 2014
Time & time zone / duration of webcast
2:00 pm ET/1:00 pm CT/11: 00 am PT
Duration: 1 hour
Webcast abstract
Shoppers expect, and demand, price transparency but retailers saddled with high-low pricing can't give consumers what they want. This opens the door for Amazon Fresh, Google Shopping Express, and Wal-Mart’s Savings Catcher. To compete effectively, retailers need a new pricing model that turns price transparency to their advantage.
The new model is Participatory Pricing. Participatory Pricing provides a way, for the first time, for retailers and shoppers to discover optimal personalized prices for every item for each shopper, not just at the aggregate market level. This approach is truly shopper centric creating a marketplace advantage for adopters.
Four industry experts discuss the pricing pain points for retailers and review alternatives that will drive shoppers to physical and digital stores.
Presenting publication name
Progressive Grocer
Sponsor name
Engage3
Presenters
Bill Bishop, Chief Architect, Brick Meets Click
Dr. Bill Bishop has been recognized as one of the ten thought and research leaders “driving the future of consumer intelligence” by American Demographics Magazine. He has worked in food retailing since 1971 and led major studies on new store format, pricing strategy, direct store delivery and loyalty marketing.
Ken Ouimet, CEO, Engage3
Ken Ouimet is credited with creating the category of retail revenue management and price optimization at his first company, Khimetrics, which led the industry for almost a decade before being successfully acquired by SAP in 2006. Engage3 is once again pioneering the next big thing in Retail Marketing.
Timothy Richards, Morrison Chair, Arizona State University
Dr. Tim Richards is a professor of the W.P. Carey School of Business at Arizona State University where he lectures on agribusiness and resource management. He is well recognized as a thought leader on price discrimination and retail pricing models.
Moderator:
Greg Girard, Program Director, IDC
Greg Girard is Program Director of Merchandising Strategies for IDC Retail Insights. He covers best practice processes and technologies that support retailers and manufacturers to achieve key operational, tactical and strategic objectives.