Retail Revenue Optimization:
A Model-free Approach
Bruce Ratner, Ph.D.
As sales fall, retailers are turning to revenue optimization methods to preserve margins. Escalating competition for consumer business has resulted in reduced margins. Competing in retail has always meant offering the right product to the right customer at the right price and at the right time. The universal objective is to drive significant business improvement by plenarily managing the target markets, prices, promotions and markdowns that preserve bankable margins. The purpose of this article is to illustrate a new model-free approach – the GenIQ Model© – to retail revenue optimization. I demonstrate how two major retail companies, one brick-n-mortar, and the other an e-retailer, generated superior results with the new revenue optimization method. For an eye-opening preview of the 9-step modeling process of GenIQ, click here. For FAQs about GenIQ, click here.
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