Margins are tightening, customers are more price-sensitive and costs continue to rise across the retail supply chain. In that environment, pricing has become one of the most important - and often misunderstood - decisions retailers make.
In this episode, Caroline Cookson speaks to Eimear Andersen about the psychology, strategy and practical realities of pricing in today’s retail landscape. Drawing on a career that spans finance, strategy and commercial leadership at global spirits company Brown-Forman, Caroline explains why many businesses fall into the trap of chasing volume rather than protecting value and why cutting prices too quickly can often damage profitability.
The conversation explores how retailers should think about value versus price, why premium pricing can sometimes increase trust and where hidden profit often sits within a product range. Caroline also discusses the idea of “reassuringly expensive” pricing, the role of promotions and how understanding customer behaviour should sit at the centre of every pricing decision.
A conversation about pricing strategy, customer psychology and why the most successful retailers focus on value rather than simply being the cheapest.
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