The 2020 Mid-Year Economic Update_long

Tip: Embrace Price Transparency to Meet Customer Demands

Grainger is proof that distributors need new pricing strategies.
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Customers increasingly expect web-based tools to be available in the normal course of conducting business with distributors, according to Lee Nyari in 3 Lessons for Other Distributors from Grainger’s Pricing Initiative.

The article examines what can B2B distributors learn from Grainger's pricing well-publicized challenges in recent months.

"In this context, they (customers) are unlikely to reduce their appetite for electronic ways of comparing prices," Nyari says.

Pricing transparency is here to stay, so ensure that your pricing practices address it, according to Nyari. New pricing strategies, if implemented carefully, can bridge the gap between customer wants and stable prices.

"Distributors need to develop new strategies so they can strike a healthy balance between catering to customer demands for easier, electronic ways of conducting business while safeguarding price lists that have been rightfully viewed as sensitive organizational assets," Nyari says.

Read more about navigating pricing issues in 3 Lessons for Other Distributors from Grainger’s Pricing Initiative.

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