You are on the global GfK website. Visit our local website for more offerings and information in your country.

SP_Sales and Market Growth_Pricing and Promotion_IN Depth

Adjust your pricing and promotions to maximize sales and outperform the competition

Plan pricing and promotion with precision. Know exactly how your promotions - and those of your competitors - impact your sales volume and revenue
Get in touch

Defining the right pricing and promotion strategies and tactics have become increasingly more complicated

Changes in supply and demand, consumer buying patterns, and inflation as we’ve never seen it before have made it difficult to plan product pricing and promotion strategies. With each change, brands and retailers must test new ideas and optimize accordingly. Which products should you promote and when? What is the right temporary price reduction to set during a promotion? And how will those reductions impact consumers’ perceptions of your brand?

Pricing goes beyond promotions. You need to consider adjusting your product portfolio to include premium products that increase in price to jump on the premiumization trend. What’s the optimal strategy to successfully go to market with a new product? How are competitors’ promotional activities impacting your sales performance?

To plan effectively, you need to understand how prices are trending over time in your market, category, and channels. You need to know how your product(s)’s pricing matters to different shopper types, and how it stacks up to your competitors. You’ll need to test, measure, and optimize your promotions and adjust quickly when variables shift.

But how can you keep up, given all the complexities and constant change?

Your success relies on having up-to-date intelligence that helps you identify: your market and competitive landscape, your shopper types and how they perceive your brand and positioning, which pricing/channels work best, how to best adjust pricing, and more.

With GfK’s Pricing and Promotion solutions, leaders in Technology Products & Durables, Retail, and FMCG can make quick, efficient pricing adjustments, run successful promotions and react to competitors’ activities.

+24%

average price growth for tech and durables March 2022 vs. Jan 2020 (GfK Market Intelligence)

+20%

year-on-year price growth in US$ of robot vacuum cleaners (GfK Market Intelligence)

+5%

growth of high end price segment year-on-year March 22 vs. March 21 (GfK Market Intelligence)
  • Market Intelligence from GfK helps us optimize our product portfolio and develop and execute a launch strategy for the new business units. We use the data to track our performance versus the competition on a monthly basis. This is key to our sales and marketing strategy, especially when it comes to our product portfolio and pricing.
    Yannella Amendola
    Marketing Director Hisense Iberia
    Description
  • GfK’s weekly data helps us to adjust forecasts and promotions rapidly, and to plan for crucial sales periods. It allows us to act based on what feels like live data, giving us increased visibility to maximize our business.
    Andrew Line
    Head of Consumer PC & Visuals 4P Lenovo UK and Ireland
    Description

Develop winning pricing and promotion strategies

Making new pricing decisions, whether it be temporary price reductions for promotions or sustained increases for premiumization or to account for inflation require the right data. You need to be able to understand and react to market volatility quickly, and with confidence.

Technology Products & Durables and Retail leaders have access to gfknewron, a single platform which includes insights and simulations for pricing and promotions so that you can plan effectively. It is backed by the most robust point of sale (POS) data in the industry.

FMCG leaders receive tailored solutions to their key business questions based on GfK’s Consumer Panel, which combines diverse data sets with one of the largest scale, ongoing surveys, which runs across 17 countries globally.
With these services, you can:
  • Understand your landscape:
    Know which products are selling and at what pricepoint across each channel in your market
  • React quickly to change:
    Change pricing and promotions on the fly as markets change to stay ahead of competitors and maximize sales during key promotional periods like Black Friday, Singles’ Day or Christmas
  • Develop the optimal pricing strategy:
    Simulate your temporary pricing adjustments to ensure you aren’t leaving money on the table
  • Capitalize on opportunities:
    Quickly spot opportunities in and across categories and be the first to adjust pricing and promotions accordingly
  • Develop winning promotions:
    Understand what promotions attracts the most shoppers and if they trigger brand and store switch or waste money
FI_13
report

State of Consumer Technology and Durables Report

After huge growth last year, the tech and durables market now sees a marked deceleration, exacerbated by inflationary pressures, supply chain challenges, and geopolitical instability. Despite the uncertainty, there’s still growth to be found for smart brands and retailers...you just need to know where to look.
Read the report
FI_12
gfknewron_market_in depth expl
Spotlight on:

gfknewron Market

Plan ahead with a full picture of what sold, where, and when so that you can stay ahead of markets and competitors, identify growth opportunities, and address issues quickly with your point of sales data in all depths and breadths.
Learn more about gfknewron Market
FP_8
Spotlight on:

GfK Category Purchase Tree

Shopping decision processes are not easy to understand and change constantly over time. Understanding the hierarchy of the purchase criteria is an important step to implement the right strategy. GfK Category Purchase Tree helps you make sense of the hierarchy so you can create new business opportunities.
Learn more about GfK Category Purchase Tree

Pricing and promotion are part of our sales and market growth solutions

Discover your target customers to understand how they think, act and buy.