The concept of having a conversation with computers is not new. It has been imagined by visionary sci-fi authors years ago with humans talking to smart machines naturally and even with some touches of humor. For example: computers in Star Trek or droids of Star Wars. We were all amazed by these dreamy interactions at...
Category: E-commerce
Safe testing of pricing strategies
Category: E-commerce, Pricing strategies
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...
Surival kit for brands in the age of Amazon
Category: E-commerce, Pricing strategies
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: 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...