According to the National Retail Federation, online shopping sales hit the $108.2 billion mark last year. If we go by the analysis of NRF and Shopify, about one-third of shoppers shop in the festive season, that is around Thanksgiving, Black Friday, Christmas and New Year. Holiday shoppers usually know what they want and have a..
Just like real estate is all about location, education is all about quality and food is all about taste, e-commerce is all about price. Yes, your product and services need to be exclusive, and the overall user experience should be great, but price optimization is still the most important factor to determine your retail success…
A recent LinkedIn poll by a CMO of an international company reveals that: 30% of businesses track their competitor’s moves and pricing once a week. 16% track a few times per week 18% track it once a month 24% track it every day and 12% hardly track it The sum it up, around 76% of..
A customer, when searching for a product or service may visit your online store, but he or she will leave it to go elsewhere, where they can find a better deal. Regardless of you offering top-quality products, the price is the key consideration for budget-conscious shoppers, who are grappling with a recessionary economy today. This..
Retail price optimization is becoming an essential tool for achieving success in the e-commerce industry. Retailers are finally realizing that it is the chief driver of profits. So why is price optimization in retail that important? Let’s understand it with a few examples. Recently, an article published on Bloomberg has shown that bigger brands like..