Everyday Low Prices and High-low are two popular pricing strategies used in retail. How to recognize which one a particular shop follows? Which one can bring better results? How to make sure the chosen strategy is implemented successfully? Check our article to understand the differences between the EDLP and HL strategies! Pricing strategies in retail...
Facebook Shops: A new player in the global e-commerce market
Not that long after Google had launched their Shopping service, Facebook saw the opportunity in conquering the global e-commerce market and tried to fight with Amazon for at least a piece of the e-commerce cake. In 2020, Mark Zuckerberg’s platform announced a new feature – Facebook Shops. It is a fully configurable e-commerce interface that...
How to start an online store?
Category: E-commerce management
Every month, the e-commerce sector rapidly grows and attracts more entrepreneurs lured by a low entry threshold and a relatively straightforward business model. However, the way to build a successful online store is not always that simple. You have to keep several crucial elements in mind and carefully pick the tools you are going to...
Sales automation in a webshop
Category: E-commerce management
Technology enables the automation of many repetitive and time-consuming processes in business. Today, it’s hard to imagine manually checking the same data in multiple sources every day or sending emails about the order status to every shopper. Automation of such processes guarantees: Time savings – thanks to automation, employees can spend more time on tasks...
Where do online shoppers look for product inspiration? Best ways to drive traffic to your online store
Category: E-commerce
When you sell online, you need to understand your customers. Where do they look for product inspiration and information? What is the most effective triggering factor to making the purchase? The latest report “The Behavior of Online Shoppers Survey 2021” prepared by Epinion and iPaper gives some interesting insights about customers’ online behavior, preferences and...
The bundle pricing strategy
Category: Pricing strategies
Selling more than one product at once can be profitable for both parties. You, as a seller, have the possibility to increase the average order value (AOV). Your customer, on the other hand, pays less for shipping and gets a discounted price. This is what bundle pricing is all about. Today, we want to show...
m-commerce – what do you need to know about mobile commerce?
Category: E-commerce
Smartphones have triggered a massive revolution in the way we use the internet. Thanks to them (and other mobile devices), we are online 24/7, and the mobile internet is in no way worse than the desktop one. Our smartphones enable us to find the information we need, look for a nearby restaurant, and, yes, shop...
Price & cost escalation – definition, meaning, factors and effects
Category: Pricing strategies
When your business starts operating internationally, there is a whole set of new challenges and issues waiting for you. Price and cost escalation is one of the critical ones, as they directly affect the prices of your products and, thus, your business performance. In this article, we are going to take a closer look at...
Marketplaces and auction websites
Category: E-commerce
The two largest e-commerce companies in the world (Amazon and Alibaba) are marketplaces. Nowadays, the e-commerce world is shaped not by single online stores but by extensive shopping platforms, which are, right after Google, the main source of product information for millions of customers. In this article, we are going to take a closer look...
Pricing in online retail – when is it key? An interview with Francesco Donato
Category: Pricing strategies
Prices influence the strategy and the image of the company as well as its profit margin. That’s why it’s usually treated as a key element of the company’s strategy. However, there are situations where an online shop should focus on different elements. What are they? Read the article with Francesco Donato, Head of Pricing at...