By George Anderson
So-called smart pricing systems promise retailers greater inventory control and higher profits, according to BusinessWeek.
Web-based systems from companies such as SAP, DemandTec and ProfitLogic can provide foods retailers with the information "to pinpoint the best time to start discounting corn on the cob, region by region."
These types of systems combined with electronic shelf tags and smart cart technology may eventually give retailers the ability "to change prices in the blink of an eye -- and send electronic messages to shoppers' carts for custom-made deals."
Moderator's Comment: What are your thoughts on smart pricing technology?
Smart pricing systems offer retailers better information to make better pricing decisions. This should enable retailers to better serve the needs of individuals consumers.
It could also cause a backlash if consumers see it as a retailer or manufacturer's way to drive up profit margins. Just ask Douglas Ivestor. [George Anderson - Moderator]