Optimizing Markdowns and Promotions

Louis-Philippe Kerkhove

Chapter 4 in Data-driven Retailing, 2022, pp 79-113 from Springer

Abstract: Abstract Discounts are frequently used to encourage demand without permanently changing the list price of a product. This chapter discusses how discounts can be improved using data-driven decision-making. Both permanent price reductions (markdowns) and temporary promotional discounts are discussed. The main focus is the former, as the markdown decision is often influenced less by the marketing objectives and can more easily be delegated to a data-driven algorithm.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-12962-9_4

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DOI: 10.1007/978-3-031-12962-9_4

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