Retail revenue management — competitive strategy for grocery retailers

Revenue management strategies have typically been associated with reservation industries, such as airlines and hotels. Now retailers, in particular grocery, have also been enjoying related benefits, such as the ability to move numerous items by offering them at the right price, to the right customer, at the right time, while maintaining a targeted price image. Adopting new technology and achieving return on investment, however, needs careful consideration. The following paper explains what a retail revenue management strategy brings to the grocery retail sector and the challenges retailers need to address in order to achieve rapid return on investment.