A few years back, a typical online buyer looking to buy apparel or an electronic gadget would scour the web to compare prices from various e-commerce sites and look for the best deals available. Prices of the same commodity would vary vastly over different sites which in turn prompted sites to monitor price changes in …
In e-commerce, Pricing Strategy is king. Online shopping essentially means comparison shopping where e-retailers constantly monitor competitor prices and set theirs accordingly to maintain their dominance in the market. While many retailers emphasize product quality and ensure a decent user experience, a good pricing strategy definitely triumphs them all. Consumers are hungry for better price deals, …
If you are running a business and have tried multiple marketing strategies but still haven’t seen a substantial impact, fret not! You are not alone. Despite several fancy whitepapers and theories available all around, the underlying fundamental is pretty simple! The effectiveness of a marketing and pricing strategy depends on its profitability or its potential …
Battle of the Bots: How Large Retailers are Engaging in Shopping Bots Driven Pricing Wars to Drive their Business
June 22, 2018
If Amazon and Walmart were to go head to head, whose side would you be on? Being the two giants of the retail industry, these two clash swords on a daily basis. And that’s what recently happened. In the present day, the industry is buzzing with the latest gossip about Walmart facing an embarrassing situation …
“Pricing is actually very simple. Customers will not pay a penny more than the true value of the product.” …
Recently Jeff Bezos, founder of e-commerce giant Amazon, overtook Bill Gates to become the richest man on Earth. With Amazon’s immense success in the e-commerce sector, this comes as no surprise. There are various aspects to a business that makes it a success. Keeping up with the latest trends, product availability, customer experience, consumer satisfaction, …
You want to ace it, but so do they. You know your market, but so do they. You have a huge array of products to offer, but so do they. So how do you actually beat them at this game? The answer is Competitive price intelligence!! If you aren’t leveraging big data to your advantage, it’s …
Discounts = Profits! What? You heard is right! There are some neat little tricks in our bag here which will help you understand how you can preserve your profit margins and still give discounts. Whenever a retailer thinks of giving discounts, the first thing that pops up in their head is, “But what about my …
The world of e–commerce essentially revolves around the theory of “right price at the right time”. Online shopping has primarily become comparison shopping whereby today’s consumer browses through 10 different websites to find the right deal. This simply means that if your prices aren’t rivaling that of your competitors, you’ll definitely lose out on sales. A …
There is no denying the fact that AI is finding its way into every aspect of modern living. From cars to healthcare to our homes, AI is progressively getting embedded into our technological functioning. AI in retail is an emerging trend today, with retailers now moving to predictive commerce. With AI on its backbone, retailers are …