Retail revenue optimization: The past, the present and the future

Retail Revenue Optimization is an area that has received widespread attention both by practitioners and academics alike. Grappling with the reality of reduced consumer spending and squeeze on profit margins, retailers are turning to companies that can peer into the ‘mind of the consumer’ to make more informed and effective decisions. One such solution embeds pricing within the Enterprise Resource Planning system. We discuss several advancements in this area over the last decade, and conclude with a brief discussion of unresolved issues that require further attention.