Basket-based pricing: A novel approach to price-based promotions

Not to be confused with product bundling, basket-based pricing is a smart tactic to entice visitors into buying more. It’s no secret that customers everywhere love a good bargain. Discounts, flash sales, coupons, cash-back and seasonal pricing are liberally used by retailers’ to increase footfalls/visits and thereby drive sales. The way basket-based pricing differs from product bundling is that the latter is restricted to a fixed set of products, while the former can drive sales across products and categories. This makes basket-based pricing a more potent promotional mechanism.

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Undressing Today Men’s Fashion – Trends for this Summer

Summer is here. Well almost over. But as they say, enjoy it while it lasts, right? Summer means cool colours, breezy evenings, shades and drinking out of coconuts. Vacation time! Holidays are the time when people distress, have fun, and generally enjoy life.

When summer is mentioned, fashion too takes a distinctly relaxed flavour. No one cares about proper attire or propriety while on holiday, do they? When we think summer fashion, we inevitably think Adam Sandler or The Hangover.

Which kind of proves the point that fashion is not a female only bastion. Men today are more fashionable than ever. While it may seem to some that variety in men’s fashion is limited, this is just an illusion. The men’s fashion industry is growing every day.

And men are becoming very savvy about looking good. Let us tell you a secret: you don’t need good looks to look good today. All you need is the right clothes- or the right people telling you what to buy.

So yes, we do remember reading about those days in Regency England (courtesy Jane Austen), when men dressed up as elegantly as the ladies. Or the times before the First World War, when men wore wigs and pomades and skin tinctures and created a fashionable look for themselves.

Mad Men proved that any stereotype can be broken after all. According to a 2013 luxury goods study by consulting firm Bain & Company, growth in the market for men’s ready-to-wear has outpaced that of womenswear, increasing between 9 and 13 percent year-on-year.

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“Conceptualize”- @Lakme India Fashion Week

The much awaited ICC Cricket World Cup Semi-Final is over and done with. A few billion Indian fans are feeling the loss of the World cup trophy. But our retailers have already picked themselves up, dusted themselves off, and are ready for the next opportunity to do great stuff.

And in the same spirit of sportsmanship, we too are ready for the big events that will add value to the shelves of the marketers and the wardrobes of the world. In the meantime, since we are a big data analytics organization, and analysis is our bread and butter; we did an interesting study of certain words- that lend themselves to “trending” online, sometimes for less than a day, but are electric enough to stay with people even now.

We observed a lot of great ideas that our very own fashion designers espoused, this year, at the Lakme Fashion Week. And no, we are not just referring to Instagram campaigns and digital runways. One notable mention, though, to Masaba Gupta for taking her collection to the digital stage- all candies and pop.

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Why Jeans and Jackets are Placed Close Together in Shops…

Walk into a ‘store’ today and you suddenly experience the shift in environments. Out of the heat or cold or general chatter on the street, store spaces are made inviting, with a décor that goes with the brand. And of course the racks of products, accessories, etc placed at intervals, divided by artsy pieces or some other form of divider. It is almost like walking into a sacred space!

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