The Current State of Pricing – 2023 Recession

2024-01-10T14:43:21-05:00Categories: Crisis Management, Inflation Pricing, Pricing Management, Pricing Optimization, Pricing Research, Pricing Strategy, Pricing Tools, Pricing Value, Recession Pricing, Revenue Management, Services|Tags: , , , , , |

A note from Iris Pricing Solutions President: Kirk Jackisch As we approach the end of 2022, it is clear that pricing leaders will need to navigate a very unpredictable market…perhaps more than ever before. With this uncertainty, leaders must employ resilient, proactive, and competitive pricing strategies. What We Saw Across Industries Almost all companies [...]

Getting Everyone Onboard for Price Increases

2024-01-10T14:43:56-05:00Categories: ecommerce, Inflation Pricing, Pricing Changes, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools, Pricing Value, Recession Pricing, Revenue Management|

Price actions are not unique Companies are constantly testing the extent of their pricing power. Faced with rising costs for materials, transportation, and workers, companies are charging more for products from metal fasteners to Oreo cookies. The primary response to inflation is to become more efficient, but inflation is currently so high, that productivity [...]

Pricing Solutions x (NRA) National Restaurant Association

2022-10-03T11:47:32-04:00Categories: Pricing Analytics, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools, restaurant pricing|

Menu Price Increases Require a Strategic Approach "Between inflation and supply chain shortages, there are a plethora of issues affecting restaurants’ bottom lines. This has led many to adjust menu prices—according to a recent survey, 91% of operators have done so. How do you know when it’s time to raise prices?". Pricing Solutions Director [...]

What Happens to Pricing When Demand Falls?

2024-01-10T14:44:20-05:00Categories: Crisis Management, Inflation Pricing, Our President, Pricing Management, Pricing Optimization, Pricing Strategy, Recession Pricing|

By: Kirk Jackisch, President, Iris Pricing Solutions Over the last 18 months, B2B businesses have been faced with three major challenges. Labor shortages, procuring materials, and the inflation in their cost of goods, which for some specific products has hit numbers in the low to mid-double digits – increases that have been unprecedented in [...]

Leveraging Pricing in a Competitive E-Commerce Environment

2022-08-04T11:52:44-04:00Categories: Pricing Analytics, Pricing in Retail, Pricing Management, Pricing Optimization, Pricing Strategy|Tags: , , , , , , |

Background Our client with over $100 million in revenue annually, sells original and aftermarket parts for automotive enthusiasts. They cater to individuals with private garages and lifts, and of the components they sell, almost 60% are for Ford Mustang, Jeep, and Chevy vehicles. During the pandemic, many enthusiasts had more time to work on [...]

Using Competitive Intelligence to Enhance Pricing

2022-06-15T15:15:57-04:00Categories: ecommerce, Pricing Analytics, Pricing in Retail, Pricing Optimization, Pricing Strategy|

The client is a global online B2B retailer that supports its global pharmaceutical, bio-pharma, and food industry clients with its thousands of quality products. With thousands of different substances per industry being sold in 15 countries, the client had no way to track what products their competitor was selling, or what price they were [...]

Value-Based Pricing & Revenue Management

2022-05-11T10:59:16-04:00Categories: Pricing Management, Pricing Optimization, Revenue Management|

What is Revenue Management? Revenue management is the business discipline that predicts consumer behavior at the micro-market levels and optimize product availability and price to optimize and/or maximize revenue There are several components to revenue management: product + customer + timing + pricing. The goal of revenue management is to align all four in such way that it [...]

Menu Prices Must Increase This Spring, But By How Much?

2022-04-08T13:25:18-04:00Categories: Pricing Analytics, Pricing Management, Pricing Optimization, Pricing Strategy, Pricing Tools, Pricing Value, restaurant pricing|

By Craig Singleton, Director of Restaurant Strategy, Iris Pricing Solutions Spring is here and it's the ideal time to re-evaluate menus and reconsider pricing. Producing new menu items or switching to a seasonal menu necessitates a consideration of current pricing. Many large, multi-unit restaurant brands procrastinate on pricing out of fear that an increase [...]

Cost Spikes, Inflation, and Supply Shortages remain as the top economic challenge in 2022

2024-01-10T14:42:41-05:00Categories: Inflation Pricing, Pricing Analytics, Pricing and Selling, Pricing in Pharmaceuticals, Pricing in Retail, Pricing Management, Pricing Optimization, Pricing Research, Pricing Strategy, Pricing Value, Recession Pricing|

Last year we asked the question Can You Protect Your Business and Clients from Cost Shocks? While we may have all hoped that the surge in the cost of raw materials and Pandemic-related disruptions would dissipate, the truth is that we're now in a significant period of inflation with most companies needing to increase [...]

Measuring the Impact of Promotion Sales in Food Service

2022-02-28T15:17:20-05:00Categories: Pricing Analytics, Pricing and Selling, Pricing in Retail, Pricing Optimization, Pricing Strategy, restaurant pricing|

Cost pressures and an increasingly competitive market have resulted in severe price increases across the restaurant industry. Research by the National Restaurant Association has found that menu prices on average have increased 4.7% percent last year, and quick service has increased by 6.7% - which was the highest increase U.S. consumers experienced in over [...]

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