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...