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Pricing expert Hans-Christian Riekhof answers questions in an interview in the current issue of the "Review for the Food Retail Trade". In times of rising costs, melting margins and digital processes in food retailing, the question is exciting as to how discounts can be used more targeted and personalized.

Review for the LEH: Interview with Pricing Expert Riekhof

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In the current issue of the Review for the Food Retail Trade, pricing expert Hans-Christian Riekhof is interviewed. The focus is on pricing. In times of rising costs, melting margins and digital processes in food retailing, the question is exciting as to how discounts can be used more targeted and personalized, it says in the preface. Because a strategy like “Three percent for all” is not the right way, says pricing expert Hans-Christian Riekhof. And he also has solutions ready for the service topic of instore navigation. Riekhof is always amazed that retail companies currently have so little data knowledge about customers in the store.

Links:

Full article in the Review for the LEH:
– RUNDSCHAU for the Food Trade 12/2022

Full article as pdf:
– RUNDSCHAU for the Food Trade 12/2022, Pages 22-25

More on the topic of Instore Navigation:

www.locandis.de
Instore Navigation – Guidance in indoor and outdoor areas

In a guest contribution in the Food Newspaper, Prof. Hans-Christian Riekhof illuminates the topic of instore navigation in retail. He had previously asked experts about the status of instore navigation in retail.

Guest contribution in Food Newspaper: Instore navigation offers more than just orientation

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In a guest contribution in the Food Newspaper, Prof. Hans-Christian Riekhof illuminates the topic of instore navigation in retail.
With the help of this digital technology, which allows customers to search for products and further information via their smartphone, retailers want to improve their customers’ satisfaction.

But in addition to orientation, the technologies of instore navigation offer many more possibilities, writes Riekhof. Thus, the trade also benefits from a number of advantages: in addition to positive effects on profitability with sales growth, it also learns more about what is happening on the sales floor. With regard to expectations of the use of technology from the perspective of experts in food retailing and other areas of retail, Riekhof conducted a survey among experts in retail.

Hagebaumarkt uses excellent app for instore navigation

Some key results of the (not representative) survey are presented by Riekhof in the guest contribution. He thus provides an insight into how the status of instore navigation is assessed in retail today. Finally, the expert makes a brief assessment of the extent to which – unlike in e-commerce – important aspects of digitization have arrived in traditional retail. The Hagebaumarkt in Neumünster has excellently implemented the digitization of its stationary retail business. With the recently awarded WIGGI app, developed by locandis, a company specializing in location-based marketing and instore navigation solutions, an indoor navigation is active that makes all 60,000 products of the hagebaumarkt easily findable via integrated product search. In addition, the product availability and daily price information can already be viewed at home via the app. Furthermore, the hagebaumarkt app allows a direct digital dialogue with each customer.

Hans-Christian Riekhof is, among other things, Professor of International Marketing at the PFH Private University of Göttingen and CEO and shareholder of locandis GmbH.

Further links

You can read the detailed article in the Food Newspaper here as a pdf:
https://www.unicconsult.com/wp-content/uploads/2021/12/LZ-Gastbeitrag_Studie-Instore-Navigation_1221.pdf

More about the excellent WIGGI app of the Hagebaumarkt:
https://www.unicconsult.com/hagebaumarkt-app-locandis-fuer-indoor-navigation-ausgezeichnet/