1、SPECIAL REPORTHow To Price in a Post-COVID-19,Post-Inflationary World2 L.E.K.ConsultingSPECIAL REPORTContentsAbout L.E.K.ConsultingWere L.E.K.Consulting,a global strategy consultancy working with business leaders to seize competitive advantage and amplify growth.Our insights are catalysts that resha

2、pe the trajectory of our clients businesses,uncovering opportunities and empowering them to master their moments of truth.Since 1983,our worldwide practice spanning the Americas,Asia-Pacific and Europe has guided leaders across all industries from global corporations to emerging entrepreneurial busi

3、nesses and private equity investors.Looking for more?Visit .L.E.K.Consulting is a registered trademark of L.E.K.Consulting LLC.All other products and brands mentioned in this document are properties of their respective owners.2023 L.E.K.Consulting LLCIntroduction.3Reconsidering pricing in a post-inf

4、lationary environment.4Returning to value-based pricing.6Evaluating feature/benefit trade-offs.10Adapting promotional tactics.12Reevaluating pricing strategy.163 L.E.K.ConsultingSPECIAL REPORTConsumer businesses have faced dramatic increases in input costs over the past 24 months,primarily due to th

5、e lingering impact of COVID-19.To avoid profit erosion,most responded by passing these cost increases on to consumers in the form of higher prices.But consumers,concerned with a potential recession,are adjusting their spending behaviors.With the worst of spiraling inflation hopefully behind us,now i

6、s the perfect time for business leaders to reflect on their 2022 pricing actions and consider a holistic reevaluation of their pricing strategies in light of current market conditions.Introduction SPECIAL REPORTReconsidering pricing in a post-inflationary environmentAccording to L.E.K.Consultings 20

7、22 Inflation Inflated:Part 2 The Business Outlook survey,profit margins faced significant pressure if business leaders failed to respond with appropriate pricing actions.Consequently,more than 70%of businesses raised prices in 2022 in response to COVID-19-induced inflation.But getting pricing right

8、remains a top concern because their customers are not blindly accepting price increases(see Figure 1).Figure 1How business owners view pricingWhile many consumers enjoyed healthier savings accounts coming out of the pandemic due to government stimulus payments and lighter spend on discretionary ente

9、rtainment(e.g.,movies,concerts,dining out),they are now wary of a potential recession.This makes them even more careful about their spending.L.E.K.s Consumer Cost-of-Living Survey 2022 found that,on average,respondents intend to reduce overall spend by more than 5%due to inflation,with a higher expe

10、cted reduction in discretionary spend categories.Spend reduction can manifest in a variety of ways shifting to less expensive stores,trading down to cheaper options,purchasing in bulk,decreasing purchase frequency or ceasing to purchase altogether.Pricing is critical to any business(see below).As co

11、nsumers are being forced to stretch their dollars,companies have an opportunity to drive value by reassessing their pricing strategies to make them more reflective of the current macroeconomic environment.Business leaders should begin by reviewing pricing principles and asking themselves how they ca

12、n make pricing a strategic lever that drives revenue and margin growth.Todays macroenvironment demands that all businesses revisit their pricing strategies.Executives would be wise to apply the learnings of businesses across the consumer landscape,including fast-moving consumer goods(FMCG),soft good

13、s,durable goods and fixed inventory services.This special report lays out several Source:L.E.K.Consultings“Inflation Inflated:Part 2 The Business Outlook”of business owners have responded to inflation by increasing prices,and.of business owners ranked evolving their pricing strategy as a top three b

14、usiness priority for 2023.7040%4 L.E.K.ConsultingSPECIAL REPORTpricing strategy concepts and case studies to demonstrate how consumer businesses have put best practices into action namely,by extracting maximum consumer willingness to pay through value-based pricing(VBP)principles.Why pricing is impo

15、rtant for your business1.Changing prices immediately impacts the bottom line and is the single largest variable in your businesss margin2.Pricing adjustments dont require a broad organizational or operational change and can typically be pulled immediately or in the near term at any point in the valu

16、e chain 3.Pricing is a key indicator of your brands relative positioningWhy pricing is important for your businessNote:FMCG=fast-moving consumer goodsSource:L.E.K.research and analysisKey questions addressed:What are the benefits of value-based pricing(VBP)?How are VBP principles applied to price st

17、rategically within my competitive set?How can I incorporate dynamic pricing into my business?Case studies:FMCG Sof goods Durable goods Fixed inventory servicesKey questions addressed:What are feature/benefit trade-offs,and how dothey inform strategic decision-making?Case studies:FMCG Fixed inventory

18、 services Durable goodsTopics discussed in the remainder of this reportReturning to value-based pricingEvaluating feature/benefit trade-offsKey questions addressed:What are the best practices to optimize promotional effectiveness?Does promotional activity have a positive,negative or neutral impact o

19、n consumer perception of my brand?Case studies:L.E.K.s 2023 Consumer Pricing and Promotion Study Adapting promotional tactics1235 L.E.K.ConsultingSPECIAL REPORTHistorically,VBP has been touted as the gold standard because it considers consumers perceived value of an offering in determining a product

20、s or services list price.VBP enables businesses to justify higher price tags by accounting for the additional value that a product or service provides in excess of its cost base.Commuter rail ticket prices are a perfect example of VBP in action.The cost of transporting rail passengers a set distance

21、 remains constant regardless of time of day,but commuter rail lines capitalize on heightened demand(therefore,higher perceived value)in the busiest commuting hours to capture a higher margin.Because the pandemic caused so much disruption,many businesses temporarily shifted away from VBP principles,a

22、dopting a“cost plus”model to pass on skyrocketing input costs.While this may seem like a logical approach,in practice it is shortsighted,as it does not account for changing competitive dynamics within the category or how consumers may respond to these higher price points.As the dust of peak inflatio

23、n pricing settles,its time for business leaders to reexamine how to extract maximum willingness to pay from their consumer base.We will now discuss two successful strategies to achieve this:strategic price positioning and dynamic pricing.Strategic price positioningIn order to position a product or s

24、ervice appropriately,it is important to understand your consumers,what they value about your product and how much they are willing to pay for it(which may differ significantly from your cost base).You also need to know how competitors products are priced and your strategic objectives with respect to

25、 those competitors.The case studies that follow highlight examples of brands that use VBP principles to achieve various business objectives.FMCG case studyUsing a low-price positioning strategy to capture market sharePrivate-label brands routinely enter categories positioned as a low-priced player t

26、o capture market share.A key reason private-label brands adopt a low-price positioning strategy is that they often dont have the equity and consumer trust to price above branded players,especially when entering new categories.Retailers dont spend as much as national brands on advertising the benefit

27、s or credentials of their Returning to value-based pricing6 L.E.K.ConsultingSPECIAL REPORTproducts,rendering them unable to capture additional willingness to pay.Therefore,once an attractive category has been identified,the retailer will select a competitor to undercut on pricing(and typically mimic

28、 their packaging)in an attempt to steal market share.Some retailers even create multiple tiers of private-label products,which allows them to capture share in various market niches.For example,in the ice cream category,Kroger owns Simple Truth(a health-focused line,including nondairy offerings),Priv

29、ate Selection(focused on gourmet products)and the Kroger brand(focused on basic everyday flavors).Soft goods case studyUsing a premium price positioning strategy to capture marginIn the standardized luggage category,brands such as Away,Briggs&Riley and RIMOWA have managed to command significant(70%3

30、00%+)price premiums over mainstream brands like Samsonite,primarily by successfully marketing their brand positioning points(see Figure 2).Source:Company websitesFigure 2Price premiums among luggage brandsSamsoniteAwayBriggs&RileyRIMOWAProduct nameVoltage DLX Medium SpinnerThe Medium FlexSympatico,M

31、edium Expandable SpinnerEssential Check-In MList price$230$395$699$1,025Price premium to Samsoniten/a70%200%300%MaterialPolypropylenePolycarbonatePolycarbonatePolycarbonateNumber of wheels4444Expandable?YesYesYesNoExterior dimensions(inches)27.36 18.62 11.652618.5112718.511.526.417.89.5Weight(pounds

32、)8.1510.8129Key driver of brands premium positioningn/aAspirational aestheticTechnological innovation(e.g.,compression technology);quality(lifetime guarantee)Easily recognizable design;quality(lifetime guarantee)7 L.E.K.ConsultingSPECIAL REPORTDurable goods case study Using strategic portfolio posit

33、ioning to target multiple consumer segmentsFor companies with a variety of brands,it is important to avoid cannibalizing your own sales by using each brand to target a different consumer.The Volkswagen Group(owner of Audi,Bentley,Lamborghini,Porsche,Volkswagen,and others)is a good example.The Volksw

34、agen brand sits in the value tier near competitors like Toyota,Honda,Nissan and Kia.Audi is in the premium tier,competing with brands like BMW,Lexus and Infiniti.Meanwhile,Porsche,Bentley and Lamborghini compete in the luxury price tier against brands like Maserati and Rolls-Royce.When marketing and

35、 pricing each brand,the Volkswagen Group must be conscious of how to differentiate each brand against its unique competitive set.Its important to keep in mind that competitor pricing may have shifted in the past few years;therefore,the gap between premium and mainstream brands may have grown or narr

36、owed.Brand alignment with target consumers may have changed,and you may now consider other brands as your competitors;therefore,now is a critical time to reevaluate your brands price positioning.Dynamic pricingDynamic pricing is a strategy that allows companies to price the same product or service o

37、n a variable,rather than a fixed,basis.The benefit is that the same offering can be sold at different prices to different consumers in response to real-time supply and demand shifts.Fixed inventory services businesses are masters of dynamic pricing.Fixed inventory services case studies Airline ticke

38、t prices fluctuate minute by minute up until the day of the flight,so passengers sitting next to each other may have paid different prices for essentially the same level of seating Sports arenas and concert venues will vary pricing based on location within the venue(i.e.,better seats for a higher pr

39、ice);secondary market sellers of tickets to these events will often adjust pricing based on minute-by-minute changes in demand,similar to airlines Movie theaters,such as AMC Theatres,have recently taken a page out of the sports and music playbook and announced that they will begin to differentially

40、price seats based on their location within the theater(i.e.,front row cheaper,middle of theater more expensive)1 Rideshare apps like Uber and Lyft utilize“surge pricing,”which increases the price of taking rides in poor weather conditions,at the end of a popular event and during rush hour traffic8 L

41、.E.K.ConsultingSPECIAL REPORTIn some categories(e.g.,airlines),consumers are conditioned to expect dynamic pricing.In contrast,they may still be adjusting to dynamic pricing in other categories(e.g.,modifying concert ticket prices based on demand).L.E.K.s 2023 Consumer Pricing and Promotion Study hi

42、ghlights this phenomenon,noting that more than 60%of consumers monitor price changes for flight purchases,but less than 40%do the same for concert tickets.However,in both categories,around one-third of consumers still opt to purchase based on convenience as opposed to waiting for a deal.Dynamic pric

43、ing allows businesses to capture incremental revenue they could not have captured with a static price point.Still,dynamic pricing principles are more applicable to some industries than others.For example,FMCG manufacturers that sell through retail channels may not be able to price dynamically becaus

44、e they cannot directly determine pricing for their end consumer,and price changes take time to roll out in-store.On the other hand,companies in more concentrated markets selling directly to consumers should determine whether dynamic pricing can be incorporated into their business.For businesses that

45、 may have difficulty implementing dynamic pricing,another way to maximize consumer willingness to pay is by assessing which features and benefits your customers value the most and raising prices where the willingness to pay more is highest.9 L.E.K.ConsultingSPECIAL REPORTSource:TFigure 3Price-pack a

46、rchitecture showing cost per ounceFeature/benefit analysis can be conducted across all types of consumer businesses to drive economic value.The analysis helps businesses estimate the value that consumers attribute to particular features,which in turn informs pricing choices.When demand analysis(e.g.

47、,conjoint)is combined with an assessment of the markets supply of these attributes,business leaders can identify the sweet spots where demand outpaces supply.Several businesses have successfully used feature/benefit analysis to design products that align with consumers willingness to pay,as the foll

48、owing examples demonstrate.Using feature/benefit analysis to command a price premiumFMCG case studyFMCG businesses frequently use feature/benefit analysis to improve the“price-pack architecture”of their product offerings.For example,bulky liquid dish detergent jugs were at one time the industry stan

49、dard for use in dishwashers.However,Cascade(and others)realized that consumers would pay a premium for the convenience of premeasured detergent packs that take the guesswork and the mess out of filling the dish detergent dispenser.With this insight in mind,Cascade launched“ActionPacs,”which command

50、an approximately 520%price per ounce premium compared with the brands liquid detergent jugs(see Figure 3).Evaluating feature/benefit trade-offs List price$9.89 Ounces 120 Price/ounce$0.08Liquid detergentActionPacs$16.99 33.1$0.51520%increaseIt is worth noting that innovations like ActionPacs typical

51、ly sit alongside legacy products such as traditional liquid detergent to create a good/better or good/better/best product assortment for the brand.This gives consumers the option of purchasing a more 10 L.E.K.ConsultingSPECIAL REPORTexpensive product with an incremental benefit or a less expensive p

52、roduct without all the bells and whistles.L.E.K.s 2023 Consumer Pricing and Promotion Study confirms that consumers favor having a choice of multiple sizes,packaging types and product benefits/claims on the shelf.Nearly 70%of consumers indicated that they prefer having more than one option per brand

53、 when purchasing everyday food,beverages and personal care items.Fixed inventory services case studiesService businesses also use feature/benefit analysis to determine the most effective way to create pricing tiers and bundles.Car wash businesses,for example,are well versed in creating tiered offeri

54、ngs.Many offer a basic wash and dry,an intensive car detailing service and several offerings in between.The benefit of creating multiple tiers is twofold:Consumers only pay for the services they need,and businesses capture revenue from customers at several points on the demand curve.Creating multipl

55、e offerings also helps these businesses defend their share of wallet,since customers who come in for an occasional car detailing can supplement that with more frequent basic wash services from the same service provider.Car wash businesses are somewhat unique in that they are less capacity-constraine

56、d than other service businesses such as beauty salons and movie theaters.For a car wash business,the goal of tiered pricing is to maximize revenue through the optimal use of equipment.For businesses whose inventory is more constrained than car wash businesses,it becomes increasingly important to use

57、 pricing to maximize the average revenue utilization of assets.Using feature/benefit analysis to compete at an entry-level price pointWhile the above examples demonstrate how consumers are willing to pay more for additional benefits and features,the inverse can also be true.For example,IKEA is the w

58、orlds largest furniture company,and its business model revolves around the idea of stripping away features and benefits that are typically offered by furniture retailers.Durable goods case studyWhile traditional furniture manufacturers sell fully assembled furniture in a variety of fabrics,colors,fi

59、nishes and sizes,IKEA offers minimally customizable modular furniture that the consumer assembles at home.In a culture obsessed with the customization of products from skincare to sneakers,IKEA has maintained a stronghold in the furniture market by selling large volumes of standardized furniture at

60、affordable prices.This stripped-down pricing strategy is also applicable in other consumer categories.11 L.E.K.ConsultingSPECIAL REPORTFor businesses looking to adjust pricing on a nonpermanent basis,promotions are a quick way to manipulate competitive positioning in real time.There are two elements

61、 to keep in mind when designing a promotional strategy:optimizing effectiveness and understanding the impact on consumer perception.Optimizing effectiveness of promotional strategyIn the current economic climate,promotions can be especially important for easing consumers into higher price points and

62、 preventing trade-down behavior.Promotions also offer more flexibility than list price changes because they can be customized and optimized for a variety of variables:discount depth,offer type,day of the week,time of the year,which products/services to include,which retailers/channels to include,etc

63、.Different consumer segments have different elasticities for promotions,so its critical to determine the desired response from each segment in order to implement the proper promotional tactic.There are a few best practices to keep in mind when defining your businesss promotional strategy,as shown in

64、 Figure 4.Adapting promotional tacticsSource:L.E.K.research and analysisFigure 4Selected best practices for defining a promotional strategyVary timing of offers throughout the yearSchedule activity for days,months or seasons when consumers are shopping most frequently to drive market shareVary offer

65、 typesKeep in mind that a dollar-or percentage-off offer is not always the optimal type of promotionVary promotional activities by competitive positioningSpend more promotional dollars where relative positioning is weakest so as not to waste fundsVary offers by product/service typeUse an elasticity-

66、based framework to define promotional roles by offering instead of treating all offerings the sameVary offers by customer type Use deeper promotions to acquire customers or reactivate existing customers;use lighter offers for existing customersVary offers by channel Understand the most effective way

67、s to promote in each channel and adjust promotional strategy accordingly12 L.E.K.ConsultingSPECIAL REPORTFor brands that sell within retail channels,the trade spend budget is key to funding promotions(in addition to funding displays,circulars,slotting fees,etc.)and to building relationships with cha

68、nnel partners,especially retailers.Traditionally,trade and marketing spend budgets have been treated relatively interchangeably,and funds are allocated based on which tactics companies wish to use to sell additional products.However,in a post-inflationary environment,businesses may opt to shift trad

69、ing funds in order to focus on explicit price reduction on the shelves.Understanding the impact of promotional activity on consumer perceptionBusiness owners often worry that offering too many promotions might damage their brand.While there is evidence that frequent use of monetary promotions can di

70、lute some aspects of brand equity,2 there are also benefits to promotions that should not be ignored.For example,L.E.K.s 2023 Consumer Pricing and Promotion Study demonstrates that promotions generally contribute positively to the net promoter score(NPS)(see Figure 5).Source:L.E.K.s 2023 Consumer Pr

71、icing and Promotion Study Figure 5Correlation between net promoter score and attributes of retail channelsCorrelation between likelihood to refer NPS and Enjoyment of shopping experienceValue for moneyFrequency of promotionBreadth of promotionDepth of promotionStore type Retailer typeExample retaile

72、rsMass merchandisersMass merchandiserWalmart,TargetClub storesClubCostco,BJsGrocery stores/supermarketsNatural groceryWhole Foods,SproutsDiscount groceryAldi,Trader JoesTraditional groceryKroger,AlbertsonsDepartment storesDiscount department store TJ Maxx,MarshallsDepartment storeNordstrom,MacysSpec

73、ialty clothing retailersAthletic clothingNike,lululemonCasual clothing valueOld Navy,Forever21Casual clothing midZara,UNIQLOCasual clothing premiumAnthropologie,MadewellLuxury clothingAllSaints,Louis VuittonStrong positive correlationStrong negative correlationNeutral13 L.E.K.ConsultingSPECIAL REPOR

74、T Across all retailer types,promotions are positively to neutrally correlated with NPS,implying that consumers generally view strong promotional activity as a reason to recommend a company to others.Luxury clothing retailers,however,see a much lower correlation between promotional activity and NPS.T

75、he data also implies that retailers should favor more frequent promotions as opposed to providing broader or deeper discounts to win over shoppers.Still,promotions are only one piece of a broader strategy for driving positive consumer sentiment.In fact,retailers with vastly different promotional str

76、ategies(e.g.,Aldi and Publix)received roughly the same NPS in L.E.K.s survey.This demonstrates that retailers with lower everyday prices and lighter promotional activity(Aldi)and retailers with higher everyday prices and more robust promotional activity(Publix)are recommended equally by consumers(se

77、e Figure 6).Note:BOGO=buy one get oneSource:Krazy Coupon Lady;Taste of Home;company websites;L.E.K.research and analysis Figure 6Retailers with similar net promoter scores but different promotional strategiesRetailerPricing and promotional strategyPredominantly everyday low-price strategy with promo

78、tional prices for select items weeklyHigh-low strategy with frequent in-store and online promotionsTypes of promotions offeredWeekly ads feature“Aldi Savers”prices,which are promotional prices layered on top of everyday low prices In-store promotions(e.g.,BOGO offers,reduced prices)Digital store cou

79、pons available in the Publix app or at P Manufacturers coupons Competitors couponsOf the criteria assessed in our study,an enjoyable shopping experience and high perceived value for money were more strongly related to NPS than was promotional activity.Club and discount retailers were a slight except

80、ion to this rule;they were evaluated less harshly on these criteria because consumers already know they are getting a deal and can excuse a less lavish shopping experience,as long as the savings make the trip worthwhile.But overall,if consumers enjoy shopping at your store and 14 L.E.K.ConsultingSPE

81、CIAL REPORTfeel that products are priced appropriately,they will recommend your store regardless of how often,how widely or how deeply you promote.Given these insights,retailers and brands should not be afraid to offer some level of promotion if it fits within their broader strategy.The key is to en

82、sure that your promotional strategy will have a positive margin impact and to understand the promotional tipping point at which consumers start to expect and wait for discounts.Promotions should be used strategically to gain a competitive edge and should be closely scrutinized to ensure they are ach

83、ieving desired goals.In todays tough economic times,consumers may be even more receptive to promotions as discretionary spend decreases.For companies that typically avoid promotions to maintain their brand image,it may be worth considering one-off promotional activities(e.g.,flash sales/holiday sale

84、s,joint promotions with a complementary business,and social media contests and giveaways)to provide consumer value on a limited-time basis.15 L.E.K.ConsultingSPECIAL REPORTTodays macroeconomic environment is certainly challenging,but it offers an opportunity for business leaders to rebuild their pri

85、cing strategies from the ground up and to incorporate VBP best practices.The 2022“cost plus”approach is a blunt instrument that was exercised in a time of crisis.It ignores a broader,longer-term approach to pricing strategy and could ultimately have a negative impact on sales.Adopting a longer-term

86、strategic approach,on the other hand,will help businesses maximize revenues in a post-inflationary environment.Business leaders should ask themselves the following questions to ensure they are viewing pricing through a longer-term strategic lens:To incorporate VBP:Do I understand my target customers

87、 and the relative value they place on my product/service?Do I understand my competitive set and how my products/services differentiation is coming through in my pricing?Can I utilize dynamic pricing to capture incremental revenue from consumers at multiple points on the demand curve?To evaluate feat

88、ure/benefit trade-offs:Which features or benefits of my product/service are most important to my customers?Least important?What is the willingness to pay for each of these features or benefits?Do any features or benefits need to be offered in combination with one another at all price points?How can

89、I add/take away features or benefits to optimize my competitive positioning?To implement more effective promotions:When are discounts most likely to stimulate a sufficient sales response?Which products are most likely to garner more response when theyre promoted?How does response vary across tactics

90、(i.e.,discount depths and promotion structure)?Who is most likely to respond(e.g.,new versus existing customer groups)?Reevaluating pricing strategy 16 L.E.K.ConsultingSPECIAL REPORT Am I promoting too often/often enough to hit my business targets and satisfy my customers?In addition to understandin

91、g the fundamental questions to ask to determine pricing and promotional strategy,it is important to consider organization-wide readiness to successfully execute these changes.To consider optional frameworks for pricing excellence:Do my sales teams have the right playbook to communicate value-based p

92、roducts?Do I have internal frameworks to ensure consistent approaches to discounting,etc.?We invite you to connect with us to learn more about how L.E.K.can help your business craft a holistic pricing strategy.For more information,please contact .Endnotes1Variety,“AMC Theatres to Change Movie Ticket

93、 Prices Based on Seat Location.”https:/ of Business Research(Volume 66,Issue 1,p.115-122),“Examining the role of advertising and sales promotions in brand equity creation.”https:/ L.E.K.ConsultingSPECIAL REPORT18 L.E.K.ConsultingAbout the AuthorsAlison SchillingMANAGING DIRECTOR AND PARTNER,CHICAGOA

94、lison Schilling is a Managing Director and Partner in L.E.K.Consultings Chicago office,where she works in L.E.K.s Consumer practice.Alison supports clients on topics including growth strategy,M&A strategy,due diligence,customer segmentation and project execution.She has worked across the food and be

95、verage sector,including with brands,ingredient suppliers,distributors and restaurants.Her experience also includes the beauty and personal care sector and retailers.Emile SantosMANAGING DIRECTOR AND PARTNER,NEW YORKEmile Santos is a Managing Director and Partner based in L.E.K.s New York office.Emil

96、e has significant experience working with clients in L.E.K.s Automotive&Mobility practice,where he advises on corporate growth and expansion strategy,new product development,brand positioning,consumer experience,and loyalty.He joined L.E.K.in 2006 and has also worked in the firms London,Sydney and B

97、oston offices.Rob HaslehurstMANAGING DIRECTOR,BOSTONRob Haslehurst is a Managing Director as well as the Head of L.E.K.Consultings Boston office and a member of the firms Americas Regional Management Committee.Rob co-leads our Automotive&Mobility practice with a focus on brands and the aftermarket,a

98、nd works across other consumer sectors.He advises clients on a range of issues including corporate strategy,consumer insights,go-to-market strategy,pricing and M&A.Chris RandallMANAGING DIRECTOR AND PARTNER,BOSTON Chris Randall is a Managing Director and Partner in L.E.K.Consultings Boston office an

99、d serves as Global Co-Head of the firms Consumer practice.Chris has extensive experience in footwear and apparel,sporting goods,home and household products,and other durable goods.He advises retailers and brands on a range of critical issues,including growth strategy,brand and marketing strategy,cha

100、nnel strategy,digital,data analytics,organizational strategy and M&A.SPECIAL REPORT19 L.E.K.ConsultingAbout the Authors(cont.)Jack GundersenASSOCIATE CONSULTANT,NEW YORKJack Gundersen is an Associate Consultant in L.E.K.Consultings New York office and works in the firms Consumer practice,primarily i

101、n the areas of food&beverage,fitness,and travel&hospitality.Jack has experience advising clients across a range of critical issues,including growth strategy,pricing and operations strategy,data analytics and M&A.Paige GreenSENIOR ASSOCIATE CONSULTANT,LOS ANGELESPaige Green is a Senior Associate Cons

102、ultant in L.E.K.Consultings Los Angeles office and works within the Consumer practice.Paige has both industry and consulting experience within the consumer sector and has worked across several verticals,including food&beverage,beauty&personal care,and retail services.She has advised clients on criti

103、cal strategic topics such as growth strategy,pricing strategy and M&A.Claire MorganMANAGING DIRECTOR AND PARTNER,BOSTONClaire Morgan is a Managing Director and Partner in L.E.K.Consultings Boston office and a member of the Retail and Consumer practice.With particular experience in food,beverage,travel and leisure,Claire has experience managing and directing client engagements spanning corporate and business unit strategy,channel management,consumer segmentation,and merger and acquisition transaction support.