Tahir Abbas Syed , Haris Aslam , Zeeshan Ahmed Bhatti , Fahad Mehmood , Aseem Pahuja
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引用次数: 0
Abstract
In supermarkets, rapid pricing adjustments are crucial due to the short shelf life of products. Adopting a multi-case study approach, this study examines the application of dynamic pricing strategies for perishable goods through the lens of a data-driven digital transformation (DD-DT) approach. We introduce a three-phase model of DD-DT for dynamic pricing: initiation, facilitation, and strategic adaptation. In the initiation phase, we identify essential frameworks for robust data collection and analytical processes, which form the backbone of informed pricing decisions. During the facilitation phase, the study integrates sophisticated algorithms and real-time analytics to process and interpret the collected data, facilitating its seamless integration into pricing strategies. The strategic adaptation phase is critical as it focuses on the ongoing refinement and enhancement of pricing strategies, enabling supermarkets to adapt swiftly to market fluctuations and consumer behaviour changes. By presenting a comprehensive DD-DT framework, this research significantly augments the existing literature on dynamic pricing and offers actionable insights for practitioners seeking to optimize pricing strategies in a digitally transforming marketplace.
期刊介绍:
The International Journal of Production Economics focuses on the interface between engineering and management. It covers all aspects of manufacturing and process industries, as well as production in general. The journal is interdisciplinary, considering activities throughout the product life cycle and material flow cycle. It aims to disseminate knowledge for improving industrial practice and strengthening the theoretical base for decision making. The journal serves as a forum for exchanging ideas and presenting new developments in theory and application, combining academic standards with practical value for industrial applications.