In the dynamic world of retail, pricing clarity and accuracy are paramount. Retailers using Cash Discount strategies often face the challenge of displaying dual prices for items, leading to customer confusion and transactional errors. The need for a solution that could seamlessly integrate dual pricing models became increasingly apparent. This environment of technological advancement in retail presented an opportunity to introduce a tool like Dual Pricer, aimed at streamlining pricing strategies and enhancing both retailer and customer experiences.

Pricing Paradox

Our exploration started with thorough market research and interactions with retail merchants, particularly those utilizing our services at Bryte Payment Solutions. We identified that a significant number of these retailers encountered difficulties with the manual process of computing cash discounts, which often resulted in pricing inaccuracies. Additionally, there was a notable level of customer confusion concerning the discrepancies between shelf prices and the amounts due at checkout.

Moreover, merchants expressed concerns about potentially violating major card brand policies due to inadequate displays of the cash discount program, a situation that could lead to substantial fines or even being banned from card networks, highlighting the necessity for a compliant solution like Dual Pricer.

To gain a deeper understanding of the merchants’ daily operational challenges in inventory pricing management, I carried out detailed user flow analyses. The valuable insights obtained from this research were instrumental in pinpointing the exact features and functionalities that Dual Pricer needed to effectively tackle these issues.

Perfecting Pricing

At its core, Dual Pricer is designed to be intuitive and user-friendly. I did a deep dive into barcodes and how they’re used to make checkout process simple.

I focused on several key features to ensure it met the needs of modern merchants:

• Dual Pricing Tag Creation: Allows transparent display of both standard and cash discount prices on a single tag.
• Smart Price Calculation: Automatically computes cash discounts, eliminating the need for manual calculations.
• Versatile Printing Options: Compatible with various printers, ensuring flexibility in tag production.
• Bulk Inventory Import: Enables merchants to quickly upload inventory data or scan items using a smartphone.
• Tag/Label Customization: Offers customization options to highlight key product details.
• Inventory Categorization: Simplifies product organization for easy retrieval.

Each feature was meticulously crafted, keeping in mind the everyday challenges faced by retailers.

Price Check

The testing phase was extensive and iterative, especially as it pertains to relying on third-party SDK’s for the printers. I tested various printer solutions to find the ones that would work best with our software and the use case we had. This hands-on approach provided invaluable feedback, which was crucial in refining the software to better meet the needs of our target users. I also launched a Minimum Viable Product (MVP) to gather initial user responses from sales agents and further feedback, which guided subsequent enhancements and feature additions.

A Transparent Outcome

The final design and implementation of Dual Pricer were met with much praise from our merchants and sales agents. Retailers reported a significant reduction in pricing errors and an improvement in the efficiency of their pricing processes. The clarity provided by the dual pricing tags led to a more transparent shopping experience, fostering trust and loyalty among customers. Additionally, the efficiency gained through automated price calculations and easy inventory management translated into tangible time and cost savings for retailers.

Tagging Takeaways

Reflecting on the design, development, and launch of Dual Pricer, several key learnings emerged:

• User-Centered Design: Understanding and addressing the specific needs of retail merchants was crucial in the success of Dual Pricer.
• Iterative Testing: Continuous testing and refinement based on real-world feedback were instrumental in creating a product that truly met user requirements.
• Need for Adaptability: Staying flexible and open to incorporating new features and hardware was key in keeping the software relevant and effective.

Looking ahead, plans include integrating advanced features like AI-driven pricing strategies and enhanced analytics capabilities to further empower retailers in their pricing and inventory management efforts.

Checking Out

Dual Pricer stands as a shining example of how technology can effectively address and resolve specific industry challenges. It showcases my capabilities in product design, project management, and user-centered innovation within the Fintech sector. Dual Pricer not only simplifies the pricing process for retailers but also enhances the shopping experience for customers, demonstrating the transformative power of well-designed software solutions in the retail industry.