View the complete article at Progressive Grocer.
Models for pricing and promotions have long been guided by the assumption that shoppers are consistently rational beings – but they’re actually far more likely to act on impulse. To account for this consumer behavior, pricing and promotional practices need to be reconsidered.
With advances in technology, marketers can move far beyond price-based offers. By letting consumers choose what works best and when, as well as measuring and acting upon that data, retailers and CPGs can attain a new level of success.
Read more from Eversight Co-founder and Chairman David Moran at Progressive Grocer.