Vertical Drop Down CSS Menu Css3Menu.com

May 18, 2020

Opinion: Pricing in a pandemic


In PG, Cheryl Sullivan is president of DemandTec by Acoustic, writes in part: "As meat packing facilities became COVID-19 hotspots and were abruptly closed, the meat supply chain contracted rapidly. The shutdown of shipping from China impacted vast parts of the food supply, while the ongoing chaos of shipping delays and port buildups worldwide further convulses supply sources and timing. This is on top of an already chaotic landscape of tariff and trade wars.All roads lead back to the need for AI-driven pricing for navigating the shift in shopper behavior and ensuring that pricing aligns with the most current demand signals. Although pricing alone cannot avoid the supply chain challenges retailers are encountering as a result of the pandemic, a quick identification of price sensitivity level and resulting demand can help retailers minimize the impact. As meat packing facilities became COVID-19 hotspots and were abruptly closed, the meat supply chain contracted rapidly. The shutdown of shipping from China impacted vast parts of the food supply, while the ongoing chaos of shipping delays and port buildups worldwide further convulses supply sources and timing. This is on top of an already chaotic landscape of tariff and trade wars. All roads lead back to the need for AI-driven pricing for navigating the shift in shopper behavior and ensuring that pricing aligns with the most current demand signals. Although pricing alone cannot avoid the supply chain challenges retailers are encountering as a result of the pandemic, a quick identification of price sensitivity level and resulting demand can help retailers minimize the impact."

Progressive Grocer 

 
SEARCH NEWS SUMMARIES
Search Logic 
 
Subscribe
MBR Publishing & Retail News
 
Latest Issues
 
Newsletter Archives
Skip Navigation Links.