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Meet sales targets by measuring and improving pricing and promotion execution in the stores
Revenue management in the retail industry refers to the practice of maximizing profitability by optimizing the pricing and availability of products and services. This involves analyzing data on customer behavior, demand, and market trends, and using that information to make informed decisions about pricing and inventory management. The goal of revenue management in retail is to balance the trade-off between maximizing revenue and maximizing sales volume. This involves setting prices that are attractive to customers while still generating a sufficient profit margin. It also involves optimizing inventory levels to ensure that products are available when customers want to purchase them, without overstocking and tying up valuable resources.
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