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Powerful Apparel Pricing Requires Advanced Analytics
Today’s consumers are more sophisticated and technologically savvy, making them harder to predict and even harder to satisfy. For apparel manufacturers and retailers to be successful, they must think be able to predict future wants and needs of their potential customers. Many successful apparel manufacturers and retailers have found a scalable way to employ a responsive, intelligent pricing discipline that aligns their pricing strategy with their customers’ willingness to pay by leveraging insights from advanced analytics to make smarter pricing decisions. Pricing smarter requires understanding where customers perceive value and having the agility to respond to competitors’ moves with full insight into the impact on financial performance.
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