Welcome to Intelligence Node's Blog. Regardless of where you are on your retail analytics and machine learning journey, our blog covers a vast range of topics to maximize your retail growth and ensure your success.
In a market heavily driven by consumer trust and brand loyalty, many consumers are reluctant to switch brands or try new products. The barriers to entry in a retail market are very high both due to the heavy competition and demanding consumer base. Retailers need to think outside the box to make waves in the […]
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 […]
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 […]
Competition is the norm by which a pricing is often defined. Recognizing your customers’ needs and demands and acting on them quicker than your competitors can give you a pivotal advantage in an increasingly tough market. In addition, you must understand your competitors’ strengths and weaknesses and know how they will react to all the […]
Introduction In the world of ecommerce, there is so much going on that it’s hard to keep track of everything. You should be aware of what your competition offers while catering to the increasingly demanding customers. Often guided by pricing as their primary decision-making criteria, your customers can perform comparisons between your online store and […]
Price is generally driven by three external factors: the market, demand, and supply. A deep understanding of how these factors impact pricing is critical to developing a pricing strategy that will move units at scale and with a desirable profit margin. Generally, organizations staff teams of analysts to study the market, identify trends, estimate demand, […]
In 2020, with a huge chunk of retail activity taking place through online platforms, US e-commerce is expected to rise 18% year on year – and this shift is not only indicative of new opportunities, but of the need for new effective strategies. There is no question that it is absolutely vital to partake in […]
Regardless of the industry, a business operates in, even if it’s relatively new or small, a careful research will reveal two or more competitors. Their existence immediately changes the playing field. In a concentrated effort to gain that one step ahead, businesses adopt numerous competitive strategies to increase their competitive advantage. That’s all fine and […]
Every business that seeks to achieve maximum levels of profitability needs to think carefully about its pricing. Specifically, it needs to think about how often to change its prices. Once you identify and set the best pricing strategy for your product or service, it can be quite tempting to hold on to it. We know […]
Keeping an eye on what your competition is doing is a great way for growing your business. Identifying who they are and what they are offering can prove invaluable to make your goods set apart from the rest. It will enable you to set prices competitively and utilize all the elements of the marketing mix […]