Matthew E. Rubel, Senior Advisor at private equity firm TPG Capital, and former Chairman and CEO of Collective Brands and Cole Haan, shares his perspectives on the topic of pricing in retail.
“The tools available today for pricing have dramatically changed,” he noted. “You can actually get much more precise with the information going out to the consumer base…and decide what is the right initial price so that you can end up with optimal gross margin throughput after you mark the products down.”
Matt suggests talking to customers first to be able to choose the right initial price, which is easier to do in the digital era.
Matt was also a panelist at First Insight’s “Big Ideas” session:"Everyday Low Pricing? Promotions? Markdowns? How to Get Entry Pricing Right!" In case you missed Matt during our Big Ideas Session you can replay the panel discussion by clicking here.