Price optimization is one of the key factors in every business operation as it can raise prices whilst improving sales volumes at the same time. Savvy pricing managers will implement it and focus on building their business to cater to the most profitable customer. However, that sounds easier in theory than it is in practice […]
With the era of online shopping came the concept of dynamic pricing. This is a natural turn of events that might not be working as well as expected. Dynamic pricing is a strategy based on which retailers change the price of the product based on supply and demand.
On its own, pricing is a complex subject that requires thorough understanding, yet it is massively important. If you set it right, the sales and profit will flow. Get it wrong and, well, you know, you’re doomed, to put it mildly. Your pricing affects everything, from profit margins and sales to brand positioning and market […]
Effective pricing is essential for a business. That’s the only way they’d know at what price they should offer a product, while maintaining a good profit margin and keeping up with the competition. A business can pick from a variety of pricing strategies and the selection depends on different factors. A business can set a […]
Customers can’t buy products they don’t know about. And in a market heavily driven by consumer trust and brand loyalty, many consumers are reluctant to switch brands or try new products. After all, the reasoning goes, why spend money on a product that might be awful?
Through “The Life-Changing Magic of Tidying Up,” Marie Kondo has transformed countless lives, both materialistically and psychologically. If only she could transfer that same power over to the e-commerce scene. As it currently stands, most brands’ online sales strategies are somewhat of a mess. Often, you’ll see a disconnect arise when these companies try to […]
2018’s grocery price wars have pitted technology against tradition, convenience against loyalty, and private labels against well-loved brands. Factors abound in determining which brands managed to reach success in this quickly evolving industry. Before crowning any victors in this battle, however, it’s worth answering an essential question first. What constitutes success in the grocery price […]
As fashion gets faster and more global, it’s also getting more complex and competitive. Many apparel retailers and brands struggle with decisions about which numbers to put on their price tags to ensure they attract enough consumers willing to pay while protecting their brand reputation and profit margins. Let’s look at how today’s most successful […]
If you’re a retailer in the twenty-first century, chances are that you’ve come across the terms ‘deep discounts’ and ‘everyday low prices.’ Convenience stores, e-retailers, and brick and mortar stores alike face this dilemma; to go with consistently lower prices, or try an ad campaign with occasional sales and promo offers. In the US, most […]
Don’t let blindspots eat away your precious margins! These days you can hardly talk about retail without talking about pricing. It may be the most crucial metric for the industry going by the Amazon wave and price wars online. Dynamic competitive landscape demands a pricing engine that can be flexible and adaptive. A retailer’s pricing […]
Billionaire investor Warren Buffett once said, “Price is what you pay. Value is what you get.” His words certainly apply to consumers and sellers int the age of Amazon. First things first: An Amazon repricer is software that automatically changes the price of your products on Amazon, according to factors like competition, cost and shipping. […]