Price intelligence is becoming a big buzzword these days. The popularity of Amazon and Google Shopping increases the pressure on e-commerce companies to monitor the prices of their competitors, and adjust their own prices in real-time to stay competitive around the clock. An intelligent optimization of pricing and a strategic thinking is essential to price intelligently and effectively.
The popularity of shopping comparison platforms like Amazon and Google Shopping is increasing the pressure on eCommerce companies to monitor the prices of their competitors, and adjust their own prices in real-time to stay competitive around the clock.
Price intelligence is becoming a big buzzword these days. But what are you going to do even with the most comprehensive price intelligence data in the world? Match your competitors’ lowest prices worldwide? Great idea if you’re tired of life! But otherwise, you’ll need a little more strategical thinking… Read more
If you’re selling online, you’re probably selling in New York City – in the Bronx, in Brooklyn, in Manhattan, in the Queens and in Staten Island. Imagine for a moment that you are walking down the streets of New York, trying to sell your products and services door-to-door, instead of doing it online. When it comes to price, I guess you would soon understand that it wouldn’t hurt to raise your prices a bit in some neighborhoods of Manhattan, while you should rather keep them low if you want to sell in Brooklyn or in the Bronx… Read more
Running a successful eCommerce operation today is a fast-paced, dynamic process. Not only is the competitive landscape constantly evolving in almost every industry, but so are the consumer trends and technology that drive it. If your eCommerce business does not have the right tools to keep up with these changes and respond accordingly, then you risk significant losses in both market share and revenue.
This is where automated dynamic pricing comes in. A good price optimization solution will help your company instantly determine the best price or promotion to offer at any given moment based on a number of factors including: seasonal demand, customer location, and the prices your competitors are charging. When executed properly, these solutions enable you to achieve your sales goals and optimize your profit margins even in an extremely competitive market.
Imagine being able to run several geo-targeted sales campaigns simultaneously where visitors are shown different prices and promotions that are optimized to their physical location! Read more
“Heal the world, make it a better place / For you and for me and the entire human race…”
Sounds pathetic? Sure enough, healing the world is a far-fetched goal for an individual. And a lot would be achieved already if we were able to sort out our own fast-paced lives… But let’s face this great challenge and make it to our #1 resolution for 2015: Healing the world. With your eCommerce. Let me tell you how. Read more
Pricing is one of the most important and difficult aspects of eCommerce.
Getting the optimal price right away for a new product or service is almost impossible, and it is even trickier to keep up with the evolutions of a dynamic marketplace. Customers using shopping comparison engines won’t even visit your site if your prices are too high. And you’re leaving money on the table if you set your price points too low.
So how do you find out the optimal price to drive the highest profits right now?
The answer is real-time market analysis. Shoppers love to compare prices, so it’s essential to know your competitors’ prices to set the right price at any given time. Read more