This eBook explains price elasticity and its challenges in retail. Price elasticity measures how quantity demanded changes with price shifts. Elasticity strategies focus on finding optimal pricing to maximize profit. There are two ways to calculate elasticity: point and arc. Challenges in retail include non-linear demand curves, sparse pricing data, and frequent recalculations. Case studies on consumer electronics and grocery highlight the impact of overpricing inelastic goods. QuickLizard's platform helps retailers optimize pricing by using data science to account for variables like seasonality and competitor pricing, automating pricing strategies for better profitability.

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