We all might have done it some time or the other. There is nothing illegal about it. It has been said that it is killing retailers. (It probably is, at least the weaker ones). Here is how Wikipedia puts it, “Showrooming is the practice of examining merchandise in a traditional brick and mortar retail store without purchasing it, but then shopping online to find a lower price for the same item.” But change happens. And this change is definitely putting a lot of (pricing) pressure on retailers. How are retailer coping?
RSR has created this beautiful infographic to answer the question. Summarizing their conclusions, here are the 5 ways to win the pricing game:
- Become less promotion driven and stay the course with your pricing strategy.
- Make fewer/smarter price changes.
- Protect your brand’s price image.
- Price consistently across all your sales channels.
- Get the information you need to respond quickly to competitors’ price changes.
- Tough Love: An In-depth Look at Retail Pricing Practices
- The peril of 'showrooming' by Alex Campbell, BBC News