Pricing-Newsletter No. 51 (2021): Why Employees Participate in Pricing Seminars

Welchen Stellenwert hat der systematische Aufbau von Pricing-Kompetenz in der Management-Entwicklung? In diesem Newsletter wollen wir einmal die Motivationslage von Mitarbeitern erkunden, an einem Pricing-Seminar teilzunehmen.

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Hardware Store: Instore Navigation Provides Accurate Product Finding

Shopping can also be done without detours: In Neumünster, you can navigate through a hardware store using an app. This leads directly to the desired product. The so-called instore navigation is a trend that brings a multitude of advantages in the digitalization of stationary trade.

The starting signal for the project was given in July 2021, when the smartphone app “WIGGI hagebaumarkt” by C.J. Wigger KG Hagebaumarkt in Neumünster went live. In the hardware store, the visitor can expect a whole new shopping experience – one without unnecessary detours. If a customer is looking for saw blades for the jigsaw, for example, he can open his app when entering the store, enter the saw blades into the so-called Product-Finder and is then led directly to the relevant shelf by his smartphone. If the customer enters several products in the hardware store, the app calculates the shortest shopping route. Searching was yesterday, today is found – thanks to instore navigation.

The technology and idea behind it is the Hamburg company locandis.

Full article:
https://www.locandis.de/instore-navigation-mit-der-app-durch-den-baumarkt/

Recently, the PFH Private University of Göttingen published a study on instore navigation in retail:
“Instore Navigation in German Retail” (Riekhof, Grüneklee, Reutel, 2021)

Pricing-Newsletter No. 50 (2021): Pricing Research: What does the van Westendorp Method bring?

Eines der einfach und pragmatisch anzuwendenden Instrumente im Pricing Research ist der van Westendorp-Ansatz. Damit lassen sich sehr konkrete Preis-Punkte errechnen. Doch wie brauchbar und valide sind die Ergebnisse? Darum geht es in diesem Pricing-Newsletter.

Jetzt kostenlosen Zugang erhalten zu allen unseren Pricing Studien, zu unseren Pricing News und zu unseren mehr als 70 Pricing-Newslettern, mit denen Sie zum Pricing Experten werden können.

One-to-One Magazine Reports on Study on Instore Navigation in Retail

The online marketing magazine One-to-One has now reported in detail on the study on instore navigation in German retail. With a view to digitization in stationary retail, the PFH Private University of Göttingen scientifically examined the role of contemporary tools such as instore navigation and digital customer cards. The diverse opportunities that arise from their use, such as generating more sales and important customer data, remain largely unused, the expert survey found.

For the purpose of researching the contribution that digital customer cards and instore navigation can make to building a digital dialogue with customers on site, facilitating their product search and gaining strategically important insights for their own business model, experts in retail were surveyed in March and April 2021. 66 people took part in the survey.

According to the survey, almost half (46 percent) of the companies surveyed have already implemented digital customer cards. Another 11 percent are planning them. Hans-Christian Riekhof, Professor of International Marketing at PFH and one of the authors of the study, concludes that most companies primarily aim to make the shopping experience more pleasant. “Location-based marketing and couponing, customer surveys directly at the scene and similar functions that digital customer cards also offer seem to play a secondary role from the perspective of the managers surveyed.”

Overall, the survey made it clear that brick-and-mortar retail has a need to catch up in terms of digitization compared to the booming online retail.

Links:

Full article in the online marketing magazine One-to-One
https://www.onetoone.de/artikel/db/869630frs.html

More about the study
“Instore Navigation in German Retail” (Riekhof, Grüneklee, Reutel, 2021)

More on the topic of location based marketing, instore navigation, digital customer cards
www.locandis.de