PORT WASHINGTON, N.Y., April 2, 2019 – The NPD Group, a global provider of information and advisory services, has launched a tool that helps retailers understand where they have permission to price differently from the rest of the market, and gain dollar share as a result. NPD’s Price Permission tool makes it easier for retailers to navigate the complex world of pricing, and build strategies to stand out from their competitors.
The Price Permission tool analyzes item pricing and buying behavior online and in store, based on NPD’s weekly, Store-Level Enabled point-of-sale data. NPD’s unique ability to access this level of information across entire industries provides the most accurate assessment of past price and promotion activity across brands and retailers. Retailers can see which categories are heavily commoditized, where they can invest, and where consumers are willing to spend more.
“Price variation is a critical component for retailers in differentiating themselves from the marketplace,” said Mike Noonan, SVP, Solutions Product Development, The NPD Group. “The Price Permission product is a powerful tool in NPD’s analytic solutions toolbox, offering unparalleled insights that help retailers drive sales, margin, and their business forward.”