Price testing is definitely one of the most difficult projects you can undertake. Those who have tried partisan ways on the principle of “I’ll change the price and see what will happen” quickly found out that it is 100% effective but only as far as “seeing what will happen” goes. Increasing the revenues or building...
Author: Anna Skorupa
Surival kit for brands in the age of Amazon
It is not a secret anymore that Amazon is dominating e-commerce today. Checking Amazon first is a very normal behavior of a regular online shopper. The stats show that 44% of all product searches, start on Amazon. Also, Amazon covers 43% of all U.S. online retail sales. If you are a brand, now more than...
The most important shopping days and how to benefit from them
Category: E-commerce, Pricing strategies
If there’s one thing you can be certain about in the online world, it’s the sales boost on special days. Why? Because shoppers are actively looking to find the best deals and spend their hard earned cash. The very first thing you need to do if you are a brand, retailer or manufacturer is to...
The Ultimate Guide to MAP/MSRP Monitoring
Category: Distribution, E-commerce, Pricing strategies
Management of MAP (Minimum Advertised Prices) and MSRP (Manufacturer’s Suggested Retail Price) is becoming more and more important for brands. According to the research, the typical brand that has many different online distributors, faced with price violations among 23% of all products. This is not all. The average price drop on products is 17% below...
E-commerce Pricing in 2019 – what should we expect?
Category: E-commerce, Pricing strategies
The year 2018 proved us one more time the importance of online price management. One of the most recent researches, shows that 88% of online shoppers still want to see the most attractive price and 54% of them abandon their cart if they find a better deal. That’s why monitoring e-commerce pricing trends should not...
3 Ways Dynamic E-Commerce Pricing Can Become Your Secret Weapon To Increasing Profits
Category: E-commerce
We are living in an era in which data and proper technology play a huge role in determining the success of e-commerce retailers. With the structured data and the right usage of technology, e-commerce directors can overcome their most challenging steps while making the right pricing decisions, such as competitive pricing, market-oriented pricing, and customer-based...
How to correctly interpret price changes in competing e-stores?
Category: Pricing strategies
Your e-commerce store can’t run its operations in isolation from the competition, just taking internal actions and ignoring market conditions and competitors updates. With hundreds of different options and the ability to reach the information in seconds, today’s customers have great power in their hands. Moreover, competition is really fierce and so, consumers do not...
How do you rebuild a brand’s price level when it’s dropped below the safe line?
Category: Pricing strategies
In today’s retail markets, it is obvious that the trend is to move from physical stores to online stores. As of now, brands can leverage the power of the big marketplaces like Amazon, eBay, and any other popular regional marketplaces and use their own physical stores mostly for logistic services, delivery centres, showrooms, and branding....
Customer price perception vs. price reality. How to manage both?
Category: Pricing strategies
How do online customers perceive your prices? How would they approach and react towards your prices? These are two core questions that need to be answered while describing the price perception of customers towards your real prices. However, the perception is sometimes different than the reality, especially if we are talking about online pricing. The...
Why cost-plus strategy is insufficient now and how to make it better?
Category: Pricing strategies
Pricing matters! Especially if you’re running an online business. Neil Patel states that 54% of shoppers will purchase products left in shopping carts if those products are offered at a lower price. Another survey, carried out by PwC, showed that 61% of respondents compare product prices. That’s why e-commerce companies should embrace pricing strategies and...