in     by  06.20.2021

Inadequate pricing verification can lead to many problems such as legal action, damaged business reputation, and many other complications. We do not want that to happen. 

At one point, you probably have encountered being overcharged or undercharged at a retail store. Sometimes, you catch it at the counter, and sometimes you don't realize it until you get home and check the receipts. 

Shoppers notice that the tag price is different from what is displayed on the register, which can be embarrassing. 

Pricing issues stem from human error. Since store prices can change from time to time, the store must manually match data prices vs. SKUs. If the store will rely on the staff to manually check the prices, there is massive room for errors to happen at very alarming rates. 

If pricing verification is not done correctly, it can cost the retailer.

How poor pricing verification can affect a business

Customer loyalty and trust
The rise of online shopping and e-commerce means that lesser people are going to the store to do their shopping. But when they do, they spend more time there. It is essential to make every customer's visit worthwhile and error-free. Aside from providing topnotch customer service, the prices of the items on the rack must match when it is scanned. 

Shoppers decide whether to buy an item based on the price. If they see a higher price that is not within their budget, it can be not very reassuring on the part of the client. 

Legal action
Some states have imposed penalties to protect the customers from items that are not priced correctly. 

  • If it is found that the shopper is overcharged, they are supposed to get a refund and a bonus. If the store refuses, the consumer can take legal action to recover the damages incurred.
  • In other areas, a business may be fined if the item is priced higher than advertised.
  • Soon enough, more states will implement similar laws to protect consumers from incorrectly priced items, so it is crucial for a business to do a price check. 

Benefits of a price verification software

Retailers can provide the employees with mobile apps that can improve price verification to avoid glaring errors such as the use of OCR. 

Aside from this, retail and price management must also be efficiently done. 

This is essential software that a retailer can have. It can save a lot of trouble, including litigation and other penalties. Since more and more areas impose penalties on retailers with mismatched prices, price verification software can be a good investment. 

Blue Chip Inventory Service provides your retail business with a list of incorrectly priced items in all the stores that you have. These mispriced items are tagged as they are found so the retailer can correct them as necessary. You also have the option to choose to create new price labels. 

The combination of price verification and retail inventory software can prove to be cost-efficient and leaves a minimal margin of error, and prevent more from happening. 

Blue Chip Inventory Service is committed to delivering the best services and giving clients accurate results at the best price. 




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