In the dynamic world of retail, every penny counts, and every sale is an opportunity to build customer loyalty. Setting the right price has never been more important – or more complex.
With the stricter enforcement of the 30-day rule for original prices that came into effect last year, the need for precision and compliance with legislation has intensified. Additionally, the increased competition through globalization and the pressure on margins are more evident than ever. Customers now have greater transparency and can easily compare prices through various price comparison tools, such as Prisjakt. Furthermore, rising shipping and storage costs are eating into the margins, making efficient price planning and campaign management crucial. This is where QL Campaign comes into play as a robust solution for these challenges.
Integrated approach to campaign management
QL Campaign supports marketers and leaders by offering a sophisticated and integrated approach to campaign management. This approach replaces the chaos of Excel spreadsheets with a comprehensive overview, allowing you to see and manage each product’s journey through price changes and campaigns with precision.
More predictability and precision
The new price rule requires that the lowest price a product has been offered to customers in the last 30 days before a sale must be the prevailing original price. A misstep here can cost up to 4% of annual sales in fines. These are not trivial amounts; these are potential losses that can have significant consequences on a business’s finances.
With QL Campaign, predictability and precision are not just ambitions but realities. The system is designed to provide users with automatic alerts when rules are broken, offering valuable time to react and correct any mistakes before they become costly.
Compliance and implications
QL Campaign also helps manage the original price aspect effectively. By ensuring compliance with the 30-day rule, it safeguards against potential fines and legal issues. Missteps in adhering to this rule can lead to significant financial penalties and damage to the company’s reputation.
Focusing on the consumer
QL Campaign aims to deliver a seamless and trustworthy pricing experience to the end consumer. By providing precise, real-time pricing data and compliance alerts, it ensures that customers receive fair and accurate prices. This transparency not only fosters trust but also enhances the overall experience. Additionally, QL Campaign helps retailers stay compliant with regulations, thereby avoiding potential fines and issues. This customer-centric approach helps in building long-lasting relationships, driving repeat business and ultimately contributing to increased customer loyalty and retention.
Building trust with customers
Accuracy and transparency provided by QL Campaign help build and maintain trust with customers. Consumers can rely on the prices presented, knowing they are in line with regulatory standards. This transparency enhances brand loyalty and customer satisfaction, as it gives customers confidence that they are receiving fair prices.
Possible negative PR and financial consequences
It is essential that consumers do not feel deceived by the pricing strategies. Losing customer trust can have severe consequences, leading to negative word-of-mouth, a drop in sales and a tarnished brand image. By maintaining accurate and fair pricing, QL Campaign helps businesses uphold their reputation and foster consumer trust.
Failing to comply with pricing regulations can also result in negative PR. Such incidents can lead to long-term financial and reputational harm. Ensuring strict compliance with the 30-day rule is crucial not only to avoid immediate financial penalties but also to protect the brand’s integrity.