Developing a pricing strategy: From 'Pricing by feel' to data-driven decisions
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Step into style with Omnia's Pricing Software
Increase margins, refine promotions and excel in the rapidly changing fashion industry with Omnia's pricing solutions.
Unlock profitability in the fast-moving fashion industry with dynamic pricing solutions.
The dynamic fashion industry demands agility as trends shift and inventory challenges persist. Retailers must balance seasonal clearances, size strategies, and line-wide pricing to stay profitable.
Key challenges that retailers face in this industry include:
- Optimizing seasonal promotions: Seasonal transitions create pressure to clear inventory. Broad discounts can erode profits and miss sales goals.
- Tackling markdown pricing: Markdowns stimulate sales but can lead to revenue loss without aligning with market trends. Competitive pricing ensures profitability.
- Managing size-based pricing complexities: Size discrepancies, such as steep discounts on smaller or larger sizes, can negatively impact the pricing perception of standard sizes.
- Ensuring coherent line pricing: Inconsistent pricing within product lines hurts brand perception. Premium retailers must ensure consistent pricing across all variants.
- Managing price consistency: Prices of trendy items fluctuate, while basics like T-shirts remain stable. Supplier pricing policies add complexity.
- Navigating grey markets: Grey markets can undercut pricing, harming brand integrity, especially when expanding into new regions with third-party resellers.
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Omnia: The Pricing Solution for Fashion Retailers & Brands
Flexible, Dynamic Price Reductions
- Your tool for flexible, dynamic and data-rich pricing: Pricing Strategy Tree™. Helps you reduce across-the-board discounts and install smart markdowns to clear stock at the end of the season.
- Combine pricing strategies like RRP or discounts for specific categories or brands.
Industry-Focused Support and Guidance
- Get tailored, enterprise-level support from our Customer Success team, dedicated to advancing your pricing strategy in the consumer electronics market.
- We help you align your pricing strategy with business goals, offering personalized guidance at every stage of your pricing journey.
Align line-wide transparent pricing
- Ensure consistent pricing across all product variations, like dresses or handbags.
- Balance competitive pricing with brand-aligned strategies for premium items.
- The "Price Explanation" feature makes it easy for your team to understand pricing choices.
Streamline your Pricing Intelligence
- Say goodbye to the time-consuming process of manually monitoring grey market products and pricing in the fashion industry.
- As a brand, you can protect your reputation by using Omnia's multiple sources of in-house data collection to track grey market prices and third-party resellers.
