Top 3 Pricing Challenges and How to Turn Them into Profits

1. Manual and fragmented processes. Many retailers and brands start with spreadsheets and basic tools that seem efficient initially, but as complexity grows, so do the pain points. Many tools in the market offer pricing solutions; however, those fragmented systems typically result in siloed data, duplicated efforts and disconnected teams, processes and workflows.

The result? Disconnected teams, duplicated efforts and no single source of truth.

Tip: Look for a solution that offers a complete end-to-end pricing workflow—from initial price setting through in-season pricing, promotions and markdowns—all within one seamless process with unified data across all systems and channels.

2. Inability to support global and local strategies. For global companies that have massive product portfolios worldwide, offering consumers localized products along with localized pricing is already a headache. Multiple currencies, local tax structures and tariffs make pricing even more complex.

The Result? Inconsistent pricing, compliance issues and operational bottlenecks.

Tip: Leverage a centralized interface for price definition and collaboration that governs pricing rules globally while enabling local flexibility—supporting transparency and consistency across markets.

3. No room for innovation. Without a consistent, transparent and collaborative end-to-end price management strategy, brands and retailers cannot support emerging models like secondhand sales or dynamic discounting.

The Result? Missed opportunities in fast-growing markets. With the rise of online shopping in a post-pandemic world, consumers are in the habit of comparing prices online before purchasing on a website or heading into a store.

Tip: Select a solution that accurately matches similar or exact products to keep new or even resale price points competitive.

While this highlights 3 of the 7 common pitfalls retailers and brands must overcome, Price Management from Centric Software® includes distinct advantages that enhance profitability and margins for retailers and brands while enabling streamlined retail operations.

Many retailers begin with spreadsheets or disconnected tools, but as complexity increases, so do the pain points. That’s why a complete, end-to-end pricing workflow—from initial price setting through in-season pricing, promotions and markdowns—is essential. With unified data across all systems and channels, teams can eliminate manual effort, reduce errors and focus on value-added decisions.

For brands operating across multiple markets, a centralized interface that governs global pricing rules while allowing local flexibility supports transparency, consistency and faster execution.

To stay competitive in today’s dynamic retail environment, it’s essential to adopt a solution that can react to market shifts in real time and support flexible pricing strategies—such as intelligent discounting or demand-based adjustments—that align to business goals and protect margin.

Price Management from Centric Software empowers retailers and brands to transform these challenges into scalable, margin-driving opportunities through one agile, AI-driven platform.

Price Management from Centric Software® is a complete, end-to-end pricing workflow from initial price setting through in-season pricing, including intelligent promotions—all within one seamless process.

Josef-Bernd Oswald, Product and Merchandise Manager at Leder & Schuh Group, explains how the Austrian footwear company is boosting its margins with AI-powered Centric Pricing & Inventory:

“We have reduced our price reductions by about 2.5%. That translates into a 1% margin increase, which, on a 300 million-euro turnover, is a 3 million-euro increase to our bottom line. That’s quite a lot; more than we were expecting at the beginning of the project.”

Discover how retailers and brands are overcoming pricing challenges and driving measurable results with AI-powered strategies in “Navigating 7 Common Pricing Pitfalls”, featuring real-world examples and insights into the AI-driven platform that is transforming price management with real results.

[1] MIT Professional Education, “Why 95% of new products miss the mark (and how yours can avoid the same fate)”

[2] Rasha Mahmoud, “Number of Retail Stores in The U.S.”, Retail Dogma