Michaels crafts responsive merchandising strategy

August 28,2024

Michaels Companies Inc. is tailoring its promotions, markdowns and prices to current customer demand. The arts and crafts retailer is deploying Revionics merchandising solutions including the vendor’s promotions, markdown and price suites. A very real challenge for retailers — who now market to the most technology-enabled, in-control shoppers ever — is to avoid the promotional downward spiral vortex and sidestep the vicious “race to the bottom” on competitive pricing. These traps severely erode margins, profits and brand image..
Michaels Companies Inc. is tailoring its promotions, markdowns and prices to current customer demand. The arts and crafts retailer is deploying Revionics merchandising solutions including the vendor’s promotions, markdown and price suites. A very real challenge for retailers — who now market to the most technology-enabled, in-control shoppers ever — is to avoid the promotional downward spiral vortex and sidestep the vicious “race to the bottom” on competitive pricing. These traps severely erode margins, profits and brand image.