Today’s retail landscape is rapidly evolving. With access to anytime/anywhere information via their smartphones, shoppers have unprecedented visibility into product and pricing information. This infographic outlines the 3 key reasons why online retail price intelligence matters for every retailer - whether you sell online or not.
US-based retailer Target has introduced six new collections to be sold exclusively on its eCommerce site. The news comes shortly after the retailer announced its new pricing strategy; it is now matching its store prices with the online prices of large-scale retailers such as Amazon, Walmart, and Best Buy. Four of the six collections fall into the category of home textiles.
Room 365 is a range of bedding in modern prints and crisp colours with the focus on "freshness".
Zutano Blue contains an assortment of children's clothing, bedding and home décor products. It was created by the designer Uli Belenky.
MudHut consists of bedding, textiles and home accessories featuring the textures, motifs and hues of Africa, Asia and Latin America.
Boho Boutique offers a range of table linen, bedding, curtains and other home furnishing pieces featuring "whimsical prints and patterns".
TOO Developed by Minneapolis-based furniture maker Blue Dot, the range includes modern home décor items.
LabWorks is a contemporary clothing collection of "daring designs".
The new developments at Target reflect how consumer shopping behaviour has changed in recent times. The growth in ownership of smartphones and tablet devices has meant people can shop from their homes and on the move; retailers are now urgently re-evaluating their business operations in line with the changing face of shopping. "We know our guests are increasingly connected and are shopping online more, so we wanted to offer guests something new, unique and unexpected," said Target's pisional merchandise manager Theresa Schmidt. "We're excited about these new brands and how they're helping us further differentiate Target.com from other online retailers."
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Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world's leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email email@example.com